Cathie Wood Doubles Down on Tesla and SpaceX as Wall Street Turns Cautious

The article says Cathie Wood and Ark Invest are buying Tesla and SpaceX even as Wall Street grows more cautious. Tesla remains under pressure, down about 30% year to date, after a disappointing Q2 that showed weaker margins and negative free cash flow despite higher revenue and deliveries. Still, Ark bought roughly $8.7 million of TSLA and continues to view Tesla as an AI, autonomous driving, and robotics story with long-term upside. SpaceX is also being accumulated after its post-IPO selloff; Ark bought about $14.3 million of SPCX shares. SpaceX’s first public earnings report is due Aug. 4 and is seen as a key test of whether revenue growth, Starlink profitability, and future investment plans can support its valuation. Overall, the piece highlights a bullish long-term conviction trade versus near-term caution from analysts, with both names facing valuation and execution scrutiny.