Cathie Wood owns over 4 million shares of SpaceX stock. She has been buying as recently as monday.
Today SpaceX closed at $115.26 from a high of $225.64 on June 16.
It has been falling the last 5 weeks....
I sold my 149 shares at $116.00 at a loss from $135
Article excerpts:
With Q1 AI spending hitting $7.7 billion and projected long-term cash requirements reaching $120 billion, investors are questioning the sustainability of this strategy. Significant risks loom, including the August 4 debut earnings report and the massive August 6 lock-up expiration involving 911.5 million shares. Consequently, short interest has surged to 32% of the float, reflecting market skepticism regarding the company’s valuation and the ability of Starlink’s profits to subsidize aggressive AI expansion.
The company’s Q1 AI-related capital expenditures have surged to $7.7 billion, approximately three times that of the same period last year. Morgan Stanley analysts predict that xAI will consume a combined total of up to $120 billion in cash between 2026 and 2027—a figure that is nearly 1.6 times SpaceX’s IPO proceeds of $75 billion.
Up to 911.5 million restricted shares will become eligible for sale for the first time, representing a market value of up to $116 billion. These shares come from early investors and private market buyers, a significant portion of whom may seek to cash out on substantial returns.
According to data from S3 Partners, currently about 206 million shares are shorted, representing 32% of the float, with a nominal short position of about $25 billion—whereas just a month ago, this figure was only about 40 million shares, representing 5% to 7%.
https://www.tradingkey.com/analysis/stocks/us-stocks/262047951-spacex-spcx-xai-texas-data-center-expansion-capex-spacex-stock-pressure-earnings-lockup-tradingkey
I bought 1 share at 163 and sold it at 208. I made 45 bucks!
“Cathie Wood owns over 4 million shares of SpaceX stock. She has been buying as recently as monday.”
That is called “talking your book”.
Never trust anyone who talks their book.