SpaceX Is Now One of Cathie Wood's Biggest Holdings. Should You Follow Her and Go All in on this Elon Musk-led Company?
Cathie Wood is a longtime supporter of Elon Musk-led companies.
SpaceX Is Now One of Cathie Wood's Biggest Holdings. Should You Follow Her and Go All in on this Elon Musk-led Company?
Overview
Cathie Wood, co-founder and chief executive of Ark Invest, has been a longtime supporter of Space Exploration Technologies (NASDAQ: SPCX), more often known as SpaceX. Through the Ark Venture Fund, she invested in the company well before it even went public. So it wasn't surprising to see this famous investor load up on SpaceX shares on the company's first day of trading -- and make it one of her biggest holdings.
SpaceX completed the biggest initial public offering ever on June 12 when it raised $75 billion. (It actually raised even more a few days later, with the final amount totaling $85.7 billion after underwriters exercised an overallotment option.) SpaceX soared in its first days of trading, and as of the June 18 market close, it was up 23% from its opening price of $150.
Details
Now you might be wondering if you should follow expert investor Wood and go all in on SpaceX. Let's find out.
Source
Originally published at www.fool.com.
