Cathie Wood Adds to Positions in Nvidia, SpaceX, and Airbnb
On Tuesday, Cathie Wood's Ark Invest added shares to its positions in three growth stocks: Nvidia (NVDA), Space Exploration Technologies (SPCX), and Airbnb (ABNB). These purchases occurred on a day when the broader market was down. While all three stocks have seen declines from their previous highs—Nvidia is within 3%, SpaceX by 19%, and Airbnb by 34%—Ark Invest appears to be taking advantage of what it sees as undervaluation opportunities. Nvidia, in particular, has announced a record $150 billion stock buyback program. Despite its strong performance this year driven by AI demand, the company's shares are still considered relatively affordable based on forward earnings multiples and growth projections. SpaceX is recovering from post-IPO volatility but remains unprofitable for now, though it’s expected to turn profitable in 2027 with significant revenue growth anticipated.
Tickers: $ABNB $ARKK $NVDA $SPCX
Topics: Airbnb Ark Invest Nvidia SpaceX stock purchases