Cathie Wood Just Doubled Down on SpaceX. Instead of Panicking About the Sell-Off, She Is Betting Big on the Long-Term Potential of SPCX Stock.

SpaceX (SPCX) has emerged as one of the most watched stocks in the market due to the historic IPO performance. Following several sessions of gains immediately after going public, the stock has fallen hard and lost almost 25% of its value in just three days, erasing more than $600 billion in market value.

Nevertheless, while many investors decided to bail out of the stock, one well-known growth-oriented investor opted to do quite the opposite. Cathie Wood's ARK Invest took advantage of the weak performance to boost its stake in SpaceX, indicating that she sees this decline as an opportunity rather than a warning sign.