Cathie Wood, co-founder and CEO of Ark Invest, has made a significant investment in SpaceX, which recently completed the largest IPO in history, raising $85.7 billion on June 12. On its first trading day, SpaceX’s stock rose by 23% from its opening price of $150. Wood purchased shares for multiple funds, positioning SpaceX among the top holdings in her portfolio.
SpaceX generated $18 billion in total revenue last year, with its satellite internet service, Starlink, contributing $11.4 billion. Despite this success, SpaceX reported a net loss of $4.9 billion as it invests heavily in technology development. Experts caution that while Wood’s support may signal strong potential for SpaceX, it carries significant risks and may not be suitable for conservative investors.
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