Cathie Wood’s Stake in Musk-led Companies
Cathie Wood, CEO of Ark Invest, holds significant positions in both SpaceX (NASDAQ: SPCX) and Tesla (NASDAQ: TSLA), comprising approximately 10% of Ark Invest’s total holdings. Wood believes that disruptive technologies will lead to major productivity gains and superior stock market returns.
SpaceX recently reported a 92% year-over-year revenue growth in Q2, reaching $7.8 billion, while reducing its net loss from $1 billion to $541 million. However, its stock faced volatility since its public debut in June, currently trading around its IPO price of $135, well below its peak of $225.64.
Tesla, known for its innovation in the electric vehicle market, has seen its stock perform phenomenally since its IPO in 2010 but is currently trading at a high forward price-to-earnings ratio of 178.6, signaling potential volatility ahead amid increasing competition.
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