Cathie Wood's Ark Bought $21.3 Million of SpaceX Stock as Shares Fell 45% From Their Record High. Wall Street's Median Price Target Is $243.81, 111.5% Above the Current Close.
Cathie Wood's investment fund is heavily invested in SpaceX stock.
Overview
Cathie Wood, CEO of Ark Invest, is known for her aggressive investment style. Ark Innovation ETF is heavily invested in growth stocks, including Tesla, Tempus AI, and CRISPR Therapeutics. Roughly half of the fund's assets are invested in just 10 companies.
Among the fund's top holdings is Space Exploration Technologies (NASDAQ: SPCX). The space stock accounts for around 4.5% of the fund's invested assets.
Details
Immediately after its IPO, SpaceX stock soared well above $200. After a sharp correction, however, shares now trade below their initial IPO price of $135 per share.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.