Key Points
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Cathie Wood forecasts that Space Exploration Technologies (NASDAQ: SPCX) will become a cost-effective player in the space economy, leveraging reusable rockets and broadband capacity.
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SpaceX’s initial public offering on June 20 set a record by raising over $86 billion, more than double the previous record held by Saudi Aramco.
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Despite reaching a high of $225, SPCX has since dropped 50%, currently trading at a price-to-sales ratio of 77, significantly higher than the S&P 500 average.
Cathie Wood’s Ark Invest believes SpaceX could potentially generate hundreds of billions in gross profit by 2030, driven by plans to deploy tens of thousands of rockets into low Earth orbit. However, Ark’s flagship ETF has underperformed this year, leading to cautions about the stock’s current valuation as it still reports losses.
5 Stocks Our Experts Predict Could Double In the Next Year
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