Cathie Wood Goes Bargain Hunting: 3 Stocks She Just Bought

Ark Invest CEO Cathie Wood added to CoreWeave (-3%), SpaceX (-7%), and X-Energy (-10%) after their recent selloffs. The article highlights CoreWeave’s still-strong growth (revenue +112% to $2B, ahead of the 101% expected) but flags a wider-than-expected loss and the risk that Meta may start processing AI workloads for third parties. SpaceX and X-Energy are framed as deeper-value/“patient investor” opportunities, but both remain pressured by valuation and profitability timelines.

Analysis

CoreWeave’s issue is not demand, it is durability: once a top customer can credibly insource the same workload, the market should mark down the terminal value of the backlog, not the next quarter’s revenue. That makes this a multiple-risk story first and a fundamentals story second; even if bookings stay strong, the discount rate applied to those bookings rises when customers gain optionality. Nvidia is the cleaner indirect beneficiary because every incremental in-house AI build still requires GPUs, while the specialized cloud layer is the one most exposed to margin compression.

SpaceX’s inclusion is a classic passive-flow event that can disappoint when the float is tight and expectations are crowded. Index buying is mechanical, but it does not create a new valuation anchor if the name is still pre-profit and already priced as a future platform asset. If the stock fails to hold post-inclusion levels over the next 1-2 weeks, that would signal the market is using the event to distribute risk rather than establish a durable base.

X-Energy looks more like a duration trade than a fundamental reset. The AI-power narrative is real over 6-18 months, but the public-market proxy is still a financing-and-execution story, so it will trade like a long-dated call option on projects that may not convert to revenue for years. The contrarian point: the selloff may be overshooting near term because power scarcity for data centers is structural, but that only matters if milestone risk stops deteriorating; until then, real rates and construction delays remain the dominant factor.

Key Decisions for Investors

• Short CRWV into any 3-5% relief rally; target 10-15% downside over 1-3 months as customer-concentration risk gets repriced. Stop if management raises 2026 revenue guidance again or if Meta explicitly limits in-house AI processing to non-core workloads.
• Pair trade: long META / short CRWV for 1-3 months. Thesis is vertical integration optionality and bargaining power for META versus backlog-duration and margin pressure for CRWV. Falsify if CRWV signs another large non-Meta customer that diversifies backlog meaningfully.
• Do not chase SPCX on the index-inclusion flow; treat it as a 1-2 week technical. If it cannot reclaim and hold the IPO-price area, use any bounce to trim or fade rather than add.
• Avoid adding to XE until there is evidence of project conversion or financing discipline. If you want exposure to the AI power theme, prefer a basket approach and wait for another 10-15% drawdown or a catalyst that reduces execution risk.
• Set an alert on META commentary around AI services monetization: if third-party AI offering grows faster than expected, it strengthens the short CRWV thesis; if it remains small, the competitive overhang is likely overstated.