Cathie Wood's Ark Bought $27 Million of SpaceX Stock. Here's Whether You Should Follow Her Lead.
SpaceX reported positive earnings thanks to Starlink momentum.
Overview
Even after a harsh and sudden correction, Space Exploration Technologies (NASDAQ: SPCX) stock remains above its IPO price of $135. Cathie Wood, the CEO of Ark Invest, has used recent weakness in shares to add to her firm's position in SpaceX.
According to reports, Ark Invest bought 200,000 shares of the popular space stock across multiple ETFs. The combined purchases totaled around $27 million.
Details
SpaceX is now the firm's second-largest holding, with a position value of roughly $680 million. Ark Invest's largest holding is another Musk-led business, Tesla (NASDAQ: TSLA). That holding is worth nearly $1 billion.
Source
Originally published at www.fool.com.
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