Cathie Wood’s ARK Invest doubled down on SpaceX after the stock slid to a post-IPO low, buying $18.3 million worth of shares on Friday, according to the firm’s July 17 trading disclosure.
ARK’s four actively managed ETFs picked up a combined 147,623 SpaceX shares as the stock closed at $123.99 (it traded as low as $122.12 during the session). The biggest buyer was the ARK Innovation ETF (ARKK), which added 95,129 shares—about $11.8 million at Friday’s close. ARKQ (Autonomous Technology & Robotics) bought 30,464 shares (~$3.78 million), ARKX (Space Exploration & Innovation) added 12,611 shares (~$1.56 million), and ARKW (Next Generation Internet) took 9,419 shares (~$1.17 million).
This latest purchase continues a steady run of SpaceX accumulation by Wood’s firm since the company went public in June. ARK purchased roughly $52.1 million of SpaceX shares in the week ending July 10, and Ark Invest Tracker data shows ARK’s total investment since the June IPO has climbed above $475 million. Around SpaceX’s June 12 market debut, ARK bought about $444 million of stock. Friday’s buy came with shares trading roughly 8.2% below the $135 offer price.
While adding to SpaceX, ARK trimmed its Robinhood stake on Friday: ARKW sold 20,089 shares and ARKK disposed of 5,913 shares (26,002 total). Robinhood closed the session at $99.96, down 5.72%. ARK’s filing did not explain the sales.
SpaceX’s share slide followed the abrupt cancellation of Starship Flight 13 minutes before liftoff after pre-flight checks showed at least two Raptor engines on the Super Heavy booster failed to ignite. Elon Musk said the affected engines would be replaced, and SpaceX rescheduled Flight 13 for July 20 at 6:45 p.m. ET.
Market observers were split on the selloff’s implications. Cognitive scientist Gary Marcus linked the weakness to growing doubts about Musk’s performance and suggested further downside was likelier than a sudden, bigger collapse. By contrast, Tesla investor Sawyer Merritt called the reaction overblown, saying a short delay is not a serious operational setback.
For now, ARK’s Friday purchases signal continued confidence in SpaceX despite near-term operational hiccups and a softer post-IPO trading environment.
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