Cathie Wood, ARK Invest detail SpaceX thesis after buying 3.3 million shares. Rocket Lab, Firefly Aerospace shares receive upgrade.

Cathie Wood's ARK Invest purchased 3.29 million SpaceX shares, boosting its largest fund holding ahead of a potential $1.75 trillion IPO on Nasdaq.

Cathie Wood's firm ARK Invest staked a large position in Elon Musk's SpaceX on Friday. The firm already has a huge chunk of Tesla stock.