Popular American investment strategist Cathie Wood has bought more shares of Elon Musk's SpaceX, boosting investor sentiment after the newly-listed stock crashed 34% from its lifetime high following the historic initial public offering last month.
Cathie Wood’s ARK ETFs added shares worth $7 million across its funds including ARK Innovation ETF, ARK Next Generation Internet ETF and ARK Fintech Innovation ETF. To fund the stock purchases, Wood sold 5.7 lakh shares of China-based tech giant Alibaba.
