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

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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