ARK Investment Buys Additional $7 Million in SpaceX Shares After Alibaba Stake Sale

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According to Financial News, on July 8, Cathay Wood's ARK Investment added approximately $7 million worth of SpaceX shares, funded by selling its Alibaba position. ARK's flagship Innovation ETF now holds 1.78 million SpaceX shares valued at $266 million, making it the fund's seventh largest holding at 4% of total assets. Wood had previously restarted Alibaba investments last year before reducing exposure again for this SpaceX purchase.
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