Cathie Wood’s Ark Invest added shares in three growth stocks, including SpaceX trading near its $150 IPO price.
Ark Invest, led by Cathie Wood, increased holdings in SpaceX, Circle Internet Group, and Palantir on Friday. The purchases expanded existing positions in all three stocks, with SpaceX shares trading just 2% above their $150 IPO debut price after two weeks of volatility.
SpaceX, now valued at over $2 trillion with $19 billion in trailing revenue, saw its stock open at $150 but remains near that level. Analysts remain divided, with target prices ranging from $62 to $310. Early investors who secured shares at $135 saw a 14% gain, though sentiment remains cautious.
The moves reflect Ark’s strategy of targeting high-growth, high-valuation stocks amid mixed market reactions. No immediate price impact was reported following the trades.