Cathie Wood is standing firmly behind Space Exploration Technologies Corp (NASDAQ:SPCX) even as the company's post-IPO selloff shows little sign of easing.
Her firm, ARK Invest bought another 124,543 SpaceX shares worth about $14.1 million on Monday across several of its actively managed ETFs, extending a buying streak that has seen the firm repeatedly add to its position throughout the stock's steep decline.
The firm now holds around 4.4 million SpaceX shares across its ETFs as of Tuesday.
The flagship ARK Innovation ETF (BATS:ARKK) accounted for the largest purchase, followed by the ARK Autonomous Technology & Robotics ETF (BATS:ARKQ), ARK Next Generation Internet ETF (BATS:ARKW) and ARK Space Exploration & Innovation ETF (BATS:ARKX).
The latest purchases come less than a week after ARK acquired another 121,384 SpaceX shares valued at roughly $15 million, continuing what has become a consistent buy-the-dip strategy.
