Cathie Wood pours $529M into SpaceX after record IPO
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Cathie Wood’s ARK Invest purchased $529.7 million in SpaceX shares on its first trading day, signaling strong conviction in the company. SpaceX’s IPO raised $75 billion, with shares surging 19% to lift its market cap above $2 trillion, making Elon Musk a trillionaire. However, risks remain high as the unprofitable company trades at nearly 94 times sales.
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