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Cathie Wood Bought Over $121,000 Worth Of Shares In This 3D Printing Partner Of Elon Musk's SpaceX On Wednesday

Stock Markets Apr 07, 2022 04:10
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© Reuters. Cathie Wood Bought Over $121,000 Worth Of Shares In This 3D Printing Partner Of Elon Musk's SpaceX On Wednesday

Cathie Wood’s Ark Investment Management on Wednesday further raised its exposure in Velo3D Inc (NYSE: VLD) on the dip.

The popular money managing firm bought 19,136 shares, estimated to be worth $121,130.8 based on Wednesday’s closing price in Velo3D.

Velo3D stock closed 26.48% lower at $6.3 a share on Wednesday.

The California-based Velo3D is a 3D-printing technology firm that counts Tesla Inc (NASDAQ: TSLA) CEO Elon Musk’s SpaceX among key clients.

Other than SpaceX, Benny Buller-founded Velo3D has worked with Honeywell International Inc (NYSE: NASDAQ:HON), Boom Supersonic, and Lam Research, since its production launch in 2018.

See Also: If Shares Of This Supplier Of Elon Musk's SpaceX Return To An All-Time High, You'd Fetch An 82% Return

Ark Invest bought shares in the company through two of its actively traded exchange funds — the Ark Space Exploration & Innovation ETF (BATS: ARKX) and the Ark Autonomous Technology & Robotics ETF (BATS: ARKQ).

The two ETFs held 7.58 million shares, worth $65.3 million, in Velo3D, before Wednesday’s trade.

Wood's Ark has been steadily buying shares in Velo3D since its market debut in October, which happened via a merger with blank-check firm Jaws Spitfire Acquisition Corp.

Photo: Courtesy of Velo3D

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Cathie Wood Bought Over $121,000 Worth Of Shares In This 3D Printing Partner Of Elon Musk's SpaceX On Wednesday
 

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