Cathie Wood Just Cut Her SpaceX Position. Is It Time to Sell?
Famed growth investor Cathie Wood has been a longtime fan of Elon Musk and Space Exploration Technologies (NASDAQ: SPCX) . She gained renown for spotlighting Tesla before it exploded into the trillion-dollar company it is today, and her firm, Ark Invest, sold private access to SpaceX before it went public. For the first time since SpaceX went public in June, Wood cut her position by roughly 55,000 shares. What does that mean for retail investors? Cathie Wood and her team have written many pages extolling SpaceX and its part in the " space economy ," and they're bullish on the company's Starlink satellite broadband business. Starlink is the dominant industry player, and it's growing quickly. It's also the only SpaceX segment that's profitable. Continue reading