Cathie Wood Doubles Down on Tesla and SpaceX as Wall Street Turns Cautious

For most investors, a sharp selloff is a reason to stay on the sidelines. But for Cathie Wood, the famous investor behind Ark Invest, it’s an opportunity to increase exposure to disruptive innovators when market sentiment turns negative.

As markets become more wary of Elon Musk’s companies — Tesla (TSLA) and SpaceX (SPCX) — Ark Invest has once again stepped in to buy the dip. As of July 27, disclosures revealed that several Ark Invest exchange-traded funds (ETFs) had purchased roughly $23 million worth of shares in both companies.