Cathie Wood’s Ark Invest scoops up $17 million in Circle, $20 million in SpaceX shares following Q2 results
The Block·
60-second summary
Cathie Wood's Ark Invest is acquiring $17 million in Circle and $20 million in SpaceX shares following Q2 results. SpaceX's stock price has plummeted due to investor concerns over its $18.4 billion in capital expenditure during the quarter, despite revenue growth. This move reflects Wood's confidence in SpaceX's long-term prospects, despite short-term market volatility.
SpaceX plunged as investors grew concerned about the firm's $18.4 billion in capital expenditure during Q2, despite revenue growth.