Cathie Wood purchased $7 million [1] of SpaceX stock on Wednesday after selling off her holdings in Alibaba [1].
The transaction signals a strategic pivot away from Chinese technology sectors and an increased bet on the commercial space industry. By unloading Alibaba, Wood is reallocating capital toward what she views as a high-growth opportunity in the aerospace sector.
Wood is known as one of the most bullish investors in SpaceX [2]. The move involves doubling down on a bet in the rocket company, which is described as newly public [3]. This shift follows a pattern of Wood targeting disruptive innovation, though the exit from Alibaba marks a distinct move away from the Chinese market.
According to reports, ARK rolled out of Chinese tech to add to the position in Elon Musk's company [3]. The specific amount of the SpaceX purchase was $7 million [1], a figure reflected across multiple financial reports. This investment comes as Wood continues to adjust her portfolio to align with long-term technological trends.
While the exact timing of the Alibaba sale was not detailed, the resulting funds were used to buy the dip in SpaceX stock [3]. This maneuver allows Wood to increase her exposure to the space economy while reducing risk associated with the volatility of the Chinese tech landscape.
“Wood is one of the most bullish investors in SpaceX.”
This trade reflects a broader trend of institutional investors reducing exposure to Chinese equities due to regulatory and geopolitical uncertainty. By shifting these funds into SpaceX, Wood is betting that the commercialization of space and the scaling of satellite infrastructure will provide higher risk-adjusted returns than traditional e-commerce in Asia.
