Cathie Wood Loads Up on SpaceX Stock Before Price Rebound

Cathie Wood is doubling down on SpaceX. ARK Invest recently added more than 20 million dollars in shares to its actively managed funds, showing strong confidence in the space exploration company. The timing was nearly perfect, as the purchase occurred just one day before the stock rallied more than 7 percent on Tuesday.

This buying spree comes after a difficult period for the stock, which faced pressure following a scrubbed Starship launch. During the countdown, engine issues forced an automatic abort, causing the share price to slide. However, the stock managed to recover ground after the delay, handing ARK an immediate paper gain on their latest acquisition.

The outlook for SpaceX remains mixed as investors look toward the next launch attempt scheduled for July 23. While many analysts maintain a price target well above current levels, the market is bracing for the upcoming August 19 lockup expiration. This event could release a large volume of shares into the market, which may create volatility for traders watching these funds closely.

Whether the stock can maintain its momentum depends on successful flight tests and how the market absorbs the new share supply. For now, the recent buying activity suggests that Wood remains bullish on the long term growth of the company despite short term technical challenges.