Cathie Wood says ARK is buying Tesla and SpaceX during share pullback

ARK adds to Tesla and SpaceX

According to Yahoo Finance, Cathie Wood said ARK Invest has been buying more Tesla and Space Exploration Technologies Corp. shares during the recent pullback. She said the firm is using the correction to raise its exposure instead of reducing its bets on Elon Musk. Wood said Tesla and SpaceX are among ARK’s highest-conviction holdings, and she framed the pullback as a chance to concentrate in companies she sees as having strong long-term potential. She also noted that ARK posts its trades every day, saying investors can see the purchases there.

Wood says Tesla robotaxis are gaining traction

Wood told CNBC, in an interview at the UP.Summit at Kennedy Space Center on Friday, that Tesla’s robotaxi business is starting to deliver on its promise. She said, “Robotaxi has hit escape velocity delighting consumers,” and described the current period as the moment investors have been waiting for. Yahoo Finance reported that her comments came even though Tesla shares had fallen more than 10% over the previous week. The article also said Tesla shares rose more than 4% in regular trading on Friday.

Musk’s possible distractions and Wood’s view

Wood acknowledged that Musk may face political distractions, including the possibility that he could be called to testify. Even so, she said his ability to handle several responsibilities at once sets him apart. She described him as someone who is unusually skilled at separating different demands on his time.

SpaceX and Anthropic remarks

Yahoo Finance reports that Wood also discussed SpaceX beyond rocket launches, including the idea of building data centers in orbit. She said challenges with land-based data centers could make space-based infrastructure more appealing. Wood added that such facilities could be powered with nuclear energy rather than relying only on solar power. The article also says she commented on Anthropic’s reported plans to go public, saying current volatility in AI stocks could affect the company’s eventual valuation. The piece noted that SpaceX shares rose nearly 9% on Friday.