ARK Loads Up on SpaceX Post-IPO, Trims Teradyne, Iridium, Archer
ARK Invest, run by Cathie Wood, ramped up buying in SpaceX after the Elon Musk company started trading publicly, shifting a week of portfolio selling into a new bet on a headline IPO. Investor’s Business Daily said ARK snapped up almost 3.3 million SpaceX shares on the first day. Reuters said SpaceX stock surged 19% in its Nasdaq debut, following a record $75 billion IPO.