Cathie Wood's Ark Invest Bought Over $51 Million of SpaceX Stock Last Week

Ark Invest purchased over $51 million in SpaceX stock last week across multiple transactions, bringing its total holdings to over $550 million spread across four ETFs. The firm has been a long-term investor in SpaceX since before its June IPO and has not sold any shares. However, the author expresses caution about SpaceX's profitability, noting that only its Starlink connectivity division posted operating profit last year, while its AI unit recorded a $6.4 billion loss.