'Money Tree Sister' Wood: "SpaceX Will Become the Most Important Company in Human History"

[Financial News]  

Cathie Wood, CEO of Ark Invest, said on the 22nd local time that Elon Musk's SpaceX could become "the most important company in human history." Her remarks came after SpaceX rebounded the previous day for the first time in eight trading sessions, only to tumble again by more than 6% on the day.
Wood is widely known in South Korea by the nickname "Money Tree Sister," which is based on her name.
In an interview with Fox Business that day, she explained why she remains optimistic about SpaceX and made the remarks. Ark Invest bought $80 million worth of SpaceX shares after the company debuted on the stock market on the 12th of last month.
Wood said that although SpaceX's stock price has peaked and then fallen, "I believe this company could become the most important company in history, in human history."
SpaceX is set to release its first quarterly earnings on the 4th of next month, and 20% of the total 911.5 million shares under lockup will be released two days later on the 6th. That has raised concerns that the stock could swing sharply again. SpaceX's share price has already nearly been cut in half from its peak, wiping out almost $1.4 trillion in market capitalization.
Wood pointed out that SpaceX is not only a company that uses its launch capabilities to explore the literal new frontier of space, but also a global communications network provider. She said, "Communications is a very local business, and to enter markets in other countries, you had to buy a local telecom company," but SpaceX has broken that formula.
Earlier, in a May interview with Bloomberg, Wood said she expected SpaceX to be highly volatile, but praised Musk for his "amazing" ability to vertically integrate his companies, including Tesla, xAI, and Neuralink.
[email protected] Song Kyung-jae Reporter