Cathie Wood’s ARK Invest pounced on a SpaceX “dip,” buying $18.3 million worth of shares after the stock slid to a new post‑IPO low, the firm disclosed in its July 17 trading report.
What ARK bought
- Four ARK actively managed ETFs picked up a combined 147,623 SpaceX shares as the stock closed Friday at $123.99 (session low $122.12).
- ARK Innovation ETF (ARKK) led the way with 95,129 shares (~$11.8M).
- ARKQ (Autonomous Technology & Robotics) added 30,464 shares (~$3.78M).
- ARKX (Space Exploration & Innovation) purchased 12,611 shares (~$1.56M).
- ARKW (Next Generation Internet) bought 9,419 shares (~$1.17M).
A continued accumulation
Friday’s buys extend a buying streak that began when SpaceX went public in June. ARK purchased roughly $52.1 million of SpaceX stock during the week ending July 10, and Ark Invest Tracker reported about $444 million was acquired around SpaceX’s June 12 market debut — moves that ARK says have pushed its total stake since the IPO above $475 million.
Price context
Based on Friday’s close, SpaceX shares were trading about 8.2% below the $135 offer price. The latest slide coincided with operational news: SpaceX cancelled Starship Flight 13 minutes before liftoff after at least two Raptor engines failed to ignite during pre‑flight testing. Elon Musk said the company will replace the affected engines and rescheduled the launch for July 20 at 6:45 p.m. ET.
Other portfolio moves
While adding to SpaceX, ARK trimmed exposure to Robinhood Markets on Friday. ARKW sold 20,089 Robinhood shares and ARKK sold 5,913 — a total of 26,002 shares. Robinhood closed the session at $99.96, down 5.72%. ARK did not provide a reason for the sales.
Market commentary
Observers offered differing takes on the selloff. Cognitive scientist Gary Marcus tied the weakness to growing doubts about Elon Musk’s performance and suggested another record low is more likely than a dramatic collapse. Tesla investor Sawyer Merritt said the market overreacted, calling the Starship delay a short operational hiccup rather than a serious setback.
Bottom line
ARK’s continued purchases show Cathie Wood is treating this pullback as a buying opportunity, deepening exposure to SpaceX despite short‑term operational setbacks and investor unease.
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