Cathie Wood Sells Small Stake in SpaceX; No Major Concern for Investors
Famed growth investor Cathie Wood has sold approximately 55,000 shares of SpaceX stock from one of her ETFs. This marks the first time since its public listing that she reduced her position in the company. Ark Invest remains bullish on SpaceX's long-term potential, particularly highlighting Starlink’s rapid revenue and subscriber growth as a key driver for profitability. Starlink reported 66% year-over-year revenue growth in Q2 with operating income up by 79%, while its subscriber base doubled to 12 million. The segment now powers broadband internet globally and has secured contracts with major airlines and the U.S. government. Despite this, SpaceX’s rocket-launching business remains unprofitable. The sale is considered a minor portfolio adjustment rather than an indication of waning confidence in SpaceX. Ark Invest holds significant positions across multiple ETFs, suggesting continued long-term support for the company.
Topics: Ark Invest Cathie Wood investment strategy SpaceX Starlink