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SpaceX shares crash 30% from peak; Cathie Wood buys $7 million stake. What is she seeing?

July 9, 2026
Source: economictimes.indiatimes.com economictimes.indiatimes.com
News Snapshot:
Popular American investment strategist Cathie Wood has bought more shares of Elon Musk's SpaceX, boosting investor sentiment after the newly-listed stock crashed 34% from its lifetime high following the historic initial public offering last month.Cathie Wood’s ARK ETFs added shares worth $7 million across its funds including ARK Innovation ETF, ARK Next Generation Internet ETF and ARK Fintech Innovation ETF. To fund the stock purchases, Wood sold 5.7 lakh shares of China-based tech giant Alibaba.Notably, this is the third time Wood has bought the dip since the SpaceX IPO last month. On the day of the Elon Musk-led company’s market...
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China Tech Buzz Topics: acquisition | Alibaba | China | Economy | electric vehicle | Elon Musk | ETF | fintech | fund | Giant | initial public offering | innovation | Internet | investment | investor | ipo | LED | listing | Morgan Stanley | online shopping | Outer Space | share | shares | SpaceX | stock

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