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Cathie Wood Adds $1.1M Stake In This 3D Printing Partner Of Elon Musk's SpaceX

By Rachit Vats

Cathie Wood’s Ark Investment Management on Tuesday further raised its exposure in Velo3D Inc (NYSE:VLD), a 3D-printing technology firm that counts Tesla Inc (NASDAQ: TSLA) CEO Elon Musk's SpaceX among its key customers.  

The popular money manager bought 419,575 Velo3D shares — estimated to be worth about $1.12 million based on their last closing price — on the dip through two of its actively traded exchange funds.   

Velo3D shares closed 5.45% lower at $2.69 on Tuesday. The stock is down 66% year-to-date.

See Also: Cathie Wood Bought Another $70K In This 3D Printing Partner Of Elon Musk-Led SpaceX on Friday

The popular stock-picking firm owns shares in Velo3D via its Ark Space Exploration & Innovation ETF (BATS: ARKX) and Ark Autonomous Technology & Robotics ETF (BATS:ARKQ).

The ETFs held 8.66 million — worth $24.86 million— in Velo3D before Tuesday’s trade.

St. Petersburg, Florida-based Ark has been steadily piling up shares in the company since its market debut in October, which happened via a merger with blank-check firm Jaws Spitfire Acquisition Corp.

 

Photo courtesy: Velo3D

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Dive Deeper:
Cathie Wood Puts In Another $29M In Coinbase, Showing Conviction In Crypto Stock Amid Sell-Off
Cathie Wood-led Ark Investment Management on Wednesday further raised its exposure in Coinbase Global Inc (NASDAQ: COIN) on the day…
Cathie Wood Cuts Twitter Stake By Another $6.4M, Edges Towards Complete Exit
Cathie Wood-led Ark Invest Management on Monday sold most of its remaining stake in Twitter Inc (NYSE: TWTR), just days after Tesla Inc (NASDAQ: TSLA
Cathie Wood Loads Up On These 2 Crypto-Linked Stocks On The Dip
Cathie Wood-led Ark Investment Management on Monday scooped up more shares in cryptocurrency-linked companies Coinbase Global Inc (NASDAQ: COIN) and…
Cathie Wood Adds $14M In Coinbase As Stock Weathers Massive Crypto Crash
Cathie Wood-led Ark Investment Management scooped up more shares in Coinbase Global Inc (NASDAQ: COIN) on Thursday as the cryptocurrency trading platform emerged from a massive slump
One subscription that gives you access to news from hundreds of sites
Cathie Wood Cuts Another $32M From Tesla Stake — Initiates Position In This Legacy Automaker Instead
Cathie Wood-led Ark Investment Management on Monday scooped up shares in General Motors Co (NYSE: GM), the money management firm's first-ever buy in a Detroit-based…
CNBC's Final Trades: Nvidia, Target, Metals & Mining And This Defensive Play
On CNBC’s “Halftime Report Final Trades,” Jon Najarian recommended SPDR S&P Metals & Mining ETF (ARCA: XME), adding “June 50…
Get all your news in one place