Cathie Wood Buys SpaceX Dip as Shares Slide 45%

SpaceX shares have seen a significant decline, dropping 45 percent from their peak after the company went public. The stock is currently trading at 124 dollars as investors adjust to the new price levels.

Cathie Wood and her firm, ARK Invest, are clearly betting on a recovery. The firm recently added 52.1 million dollars worth of SpaceX shares to its portfolio. This move shows that the fund continues to have high conviction in the aerospace company despite the recent market volatility.

Beyond SpaceX, the firm also picked up additional shares of Coinbase and Circle. Traders are keeping a close eye on these positions to see if this buying spree marks a bottom for the stock. Monitoring how these large institutional moves affect broader market sentiment will be key in the coming weeks.