Yes — Cathie Wood’s ARK Invest bought SpaceX stock again this week, and the scale of the purchases is getting investors’ attention.
What happened
- In an ARK disclosure filed July 20, four of the firm’s actively managed funds bought a combined 170,634 SpaceX shares while the stock was still trading below its $135 offer price. At Monday’s close of $119.85 those shares were worth about $20.45 million.
- The ARK Innovation ETF took the largest slice — roughly 97,664 shares (about $11.7 million). Three other ARK funds split the remainder.
- This followed a July 17 purchase of 147,623 shares after SpaceX slid to a post-IPO low. Across both buys, ARK added 318,257 shares — approximately $38.75 million — on top of the roughly $475 million it already invested since the June IPO.
Why the timing matters
- The buys came just before a meaningful price move: SpaceX shares jumped more than 7% on Tuesday after a sharp dip earlier in the week. That bounce translated into an early paper gain for ARK of roughly $1.45 million on the July 20 purchase. For traders and momentum-focused funds, that kind of timing fuels conversation about a renewed SpaceX rally — and draws interest from crypto market observers who often track Elon Musk–related market dynamics.
The catalyst: Starship and market reaction
- Volatility traces back to a scrubbed Starship attempt at Starbase, Texas. Flight 13 was called off on July 16 when several Raptor engines failed to ignite during the countdown. Elon Musk said, “Some of the engines didn’t start, triggering an automatic launch abort,” and noted two Raptor engines would be replaced before the next try, scheduled for Thursday, July 23.
- SPCX shares fell as much as 3.34% on Monday and were roughly 43% below their June 16 high of $225.64 before bouncing to $128.37 on Tuesday — about $6.63 below the $135 offer price.
Heads-up risks and upside
- Bullish signals: Reuters-based analyst median target sits at $213.50, well above Tuesday’s close, leaving room for upside if operational momentum returns.
- Bearish pressures: S3 Partners estimates about 30% of SpaceX’s freely traded shares are shorted, with bearish traders claiming nearly $4 billion in paper profits over the past month. And importantly, a major lockup expiry on August 19 could free up roughly 900 million additional shares, creating potential downward pressure as more supply hits the market.
Bottom line
Cathie Wood’s ARK doubled down on SpaceX at lower prices, and the recent bounce has made those purchases look prescient — at least in the short term. But the path forward is far from certain: the rescheduled launch this week and the massive lockup expiration in August are the next critical events that will shape whether this streak of timing turns into a sustained rally.
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