SpaceX shares crash 30% from peak; Cathie Wood buys $7 million stake. What is she seeing?

Cathie Wood's ARK ETFs purchased around 7 million dollars of SpaceX shares across three funds, marking the third dip-buy since SpaceX's IPO last month at 135 dollars per share. SpaceX shares have corrected around 34 percent from their post-listing peak of 225.64 dollars to close at 148.30 dollars. Morgan Stanley initiated coverage with an Overweight rating and a 300 dollar target, while Bernstein initiated with an Outperform rating and a 239 dollar target.