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Cathie Wood buys $36.1 million of tumbling tech stock
TheStreet71d agobullish
Cathie Wood buys $36.1 million of tumbling tech stock

Cathie Wood, CEO of Ark Investment Management, is known for buying high-growth stocks soon after they go public, especially when share prices pull back after an early rally. That's exactly what she's doing with SpaceX this week, adding more than $36 million worth of the newly public stock as it ...

Databricks Set to Hit $188 Billion Valuation With New Investment From Coatue
The Wall Street Journal71d agoneutral
Databricks Set to Hit $188 Billion Valuation With New Investment From Coatue

Coatue Management is leading a $3 billion investment in Databricks, a data-analytics software provider, that values the company at $188 billion, according to people familiar with the matter. The new financing represents a 40% increase from its valuation in December, when Databricks raised money at a $134 billion valuation. It recently released a new software tool, called Unity AI Gateway, that allows companies to access AI models and track their spending on the technology.

SpaceX Shares Fall After Company Aborts Starship Test Launch
The Wall Street Journal71d agobearish
SpaceX Shares Fall After Company Aborts Starship Test Launch

Shares of SpaceX fell in after-hours trading Thursday after the company wasn’t able to launch its Starship rocket on a key test flight. SpaceX was proceeding toward the launch at 6:45 p.m. ET from its site near Brownsville, Texas, with its countdown clock ticking down. Then, the mission was aborted just as the Starship booster engines were supposed to start firing away, according to a company livestream.

SpaceX shares 'could go a lot lower,' says portfolio manager
Reuters Videos71d agoneutralVIDEO
SpaceX shares 'could go a lot lower,' says portfolio manager

<body><p>STORY: SpaceX shares have been volatile, experiencing brief bouts of strength before slipping back. The stock has dropped below its initial public offering price for the first time, falling to around $132.59 a share.</p><p>Casey says SpaceX shares could fall further as investors reassess lofty expectations that were largely priced in at the IPO, but argues that the pullback doesn't alter the company's long-term outlook.</p><p>"It's not to say that we're negative on the story long term, and you have to expect this kind of volatility when you're investing in the large, large companies that are only just going public," Casey says.</p></body>