SpaceX Stock Down 45% From Peak — Cathie Wood Just Bought $51M
SpaceX shares have cratered nearly half from their post-IPO high. Cathie Wood sees a buying opportunity and just dropped $51 million on the dip.
SpaceX stock has taken a serious beating. Shares are down 45% from the peak they hit after the company's IPO, and that kind of drawdown would have most investors running for the exits. Not Cathie Wood.
The ARK Invest founder just committed $51 million to SpaceX, treating the selloff as a buying opportunity rather than a warning sign. That's a bold call on a name that's already been through a brutal correction, and it signals Wood still believes the long-term thesis on Elon Musk's rocket company is intact.
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For retail traders, the move is worth watching closely. When a high-conviction investor of Wood's profile steps in at a 45% discount from highs, it tends to shift the narrative from "falling knife" to "potential floor." That doesn't mean the bottom is in — but it does mean smart money is starting to get interested at these levels.
The key question is whether SpaceX can justify its valuation from here. The company is a private-market darling that trades via secondary markets and funds like ARK's, meaning price discovery is murkier than your typical NYSE listing. Wood's $51 million bet is essentially a vote of confidence that the post-IPO euphoria was overblown but the underlying business is not.
If you've been eyeing SpaceX exposure, Wood just made the case for you. Whether you follow her lead depends on your time horizon and your appetite for volatile, high-growth names. Continue reading at Yahoo Finance.
