Cathie Wood Just Bought More SpaceX Stock. Here's Why I Wouldn't Copy Her

While Cathie Wood's Ark Investment Management continues buying SpaceX stock, the author argues against following her lead. Despite SpaceX's impressive achievements in space travel and promising developments in Starlink and AI computing, the stock's valuation is unjustifiably high at a price-to-sales ratio of 78.09. With only $4.7 billion in Q1 2026 revenue growing at 15% year-over-year and heavy capital expenditures in AI, the stock would need to drop significantly before becoming attractive.