Cathie Wood calls SpaceX 'most important company' amid stock pullback
Fox Business • • business
Key Points:
- ARK Invest CEO Cathie Wood remains bullish on SpaceX, calling it potentially "the most important company in global history" despite a recent stock decline and a significant upcoming share unlock.
- ARK Invest has allocated $80 million to SpaceX following its public debut, emphasizing the company's dual role in space exploration and building a global satellite communications network.
- SpaceX's stock has dropped about 47% from its peak, losing nearly $1.4 trillion in market value and falling to eighth place by market capitalization behind Meta.
- Wood praises Elon Musk's ability to vertically integrate his companies and acknowledges potential stock volatility, while Musk warns investors against short-selling SpaceX shares.
