SpaceX (SPCX) Stock Has Plunged 45% From Its Post-IPO High, and Cathie Wood Recently Bought $51 Million of It
Sometimes, a promising stock that's down 45% still isn't a bargain.
Overview
If you like to keep up with famous investors, you probably know Cathie Wood, the founder, CEO, and chief investment officer of Ark Invest, known for investing in companies with disruptive and innovative technologies. Many investors pay attention when she makes big buys or sales, and she recently raised a lot of eyebrows when she bought $51 million worth of Elon Musk's Space Exploration Technologies (NASDAQ: SPCX).
The reason many were surprised is that Space Exploration Technologies, commonly known as SpaceX, is arguably overpriced.
Image source: Getty Images.
Details
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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.