Cathie Wood's Ark Invest Is Buying SpaceX Stock as Shares Sink Below Their IPO Price. Should Investors Follow Her in?
The Ark Invest founder is betting big on SpaceX.
Overview
Space Exploration Technologies (NASDAQ: SPCX) didn't have many good days in July, as its stock declined 31%. It ended the month at a share price of about $108, well below the $135 IPO price.
Cathie Wood, founder and CEO of Ark Invest, has been a vocal supporter of SpaceX, saying she thinks it "could become the most important company in history, and I mean in global history." With praise like that, it's probably no surprise that Wood is buying the dip on SpaceX, but retail investors may want to be more cautious.
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Originally published at www.fool.com.
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