Cathie Woods Ark Investment Management increased its stake on Friday Velo3D Inc VLDa 3D printing technology company that matters Tesla Inc TSLA chairman Elon Musk’s SpaceX to its most important customers.
Wood bought over 96,000 shares of the company’s stock valued at over $421,000 based on Thursday’s closing price ARK Space Research and Innovation ETF ARKX. The fund holds over $8.9 million worth of Velo3D stock with a weighting of 3.18%.
Velo3D announced this last week Kevton Technologies had bought seven from the company sapphire Printer. The purchase is one of the largest ever with Velo3D from a contract manufacturer and will position Kevton Technologies as one of the top suppliers of additively manufactured parts based on Velo3D’s laser powder bed fusion technology.
Velo3D’s additive manufacturing technology made its debut in 2018 and has since seen widespread adoption across the aerospace industry, including among customers Launcher, SpaceX, Hermeus, Lockheed Martin Corporation LMTand Aerojet Rocketdyne Holdings Inc AJRD Use it to create some of your most complex designs.
Price action: Velo3D Inc shares are down over 7% in the last five days. The stock has lost over 44% since the beginning of the year Data from Benzinga Pro.
Continue reading: Ark Invest’s Cathie Wood is stepping down from management of two Ark funds
