Cathie Wood Names SpaceX as Favorite Investment with Bold Prediction

Cathie Wood has identified SpaceX (SPCX) as her favorite stock, predicting it could become the most important company in history. SpaceX's stock has fallen about 40% from its peak and currently trades below its initial price. In a July interview, Wood expressed confidence in SpaceX's potential, particularly due to its orbital data center opportunities. She invested 529.7 million dollars on the first day of its public offering, selling Tesla shares to finance the purchase. Wood believes SpaceX could generate 47 billion dollars annually, driven by its Starlink service, which controls about 70% of active satellites and is the only profitable segment of the company. SpaceX also rents computing power to major AI firms like Anthropic and Google. Despite the stock trading near 119 dollars, down nearly 4% recently, Wood argues that the sell-off overlooks SpaceX's ten-year lead in reusable rocket technology. SpaceX has incurred 41.3 billion dollars in losses, and recent delays in Starship tests have negatively impacted its stock. Wood, known for her early investments in Tesla and Bitcoin, views the current drop as a buying opportunity, citing the vast multi-trillion dollar markets SpaceX can tap into.

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