Although SpaceX's (SPCX.O) stock price has fallen significantly below its IPO price, Cathie Wood, the renowned Wall Street fund manager and CEO of Ark Invest, continues to strongly support the company, calling it a potential candidate to become “the most important company in global history.” On Wednesday, Ark Invest, managed by Cathie Wood, purchased shares of SpaceX through multiple ETFs, including the ARK Innovation ETF (ARKK), the ARK Autonomous Technology & Robotics ETF (BARKQ), the ARK Next Generation Internet ETF (ARKW), and the ARK Aerospace & Defense Innovation ETF (ARKX). According to reports, a total of 121,384 shares were acquired, amounting to an investment of approximately $14 million based on SpaceX’s closing price of $115.26 on that day. (Jinshi)
Cathie Wood's Ark Invest Buys $14 Million in SpaceX Amid Stock Decline
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Summary
Cathie Wood’s Ark Invest added $14 million in SpaceX shares as the Fear & Greed Index showed mixed signals. The firm purchased 121,384 shares at $115.26 through ETFs such as ARKK and ARKW. Despite the stock trading below its IPO price, Wood still considers SpaceX a potential “most important company in global history.” Crypto price movements remain a key focus for investors monitoring market sentiment.
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