Cathie Wood Buys $27M SpaceX at $148.30 After 34% Drop

On July 9, ARK Invest purchased roughly $27 million of SpaceX shares across four ETFs, lifting the position to 4.5% of assets and making it the fund's fourth-largest holding. The buys follow the July 8 addition of $7 million funded by selling over 570,000 Alibaba shares. Cathie Wood reiterated bullish targets of a $2 trillion Starlink valuation and $3.1 trillion SpaceX enterprise value by 2030, yet the stock trades at a 109 P/S ratio after falling from its $225 post-IPO high. The move signals continued institutional conviction amid elevated near-term volatility risks.