Cathie Wood’s investment firm purchased 210,121 SPCX shares through four of its ETFs — ARKK, ARKQ, ARKW, and ARKX. The purchase came after the stock dropped more than 16% and closed at $154.60, erasing most of the gains made since its market debut on June 12.
SpaceX also announced its first bond offering that same day. The company plans to use the proceeds to fully repay its bridge loan, cover expenses, and fund general corporate purposes, including the development of Starlink and its artificial intelligence projects.
Following the IPO, Ark Invest established SpaceX as one of its core holdings. In ARKK, the stock became the fund’s sixth-largest holding with a weighting of around 4.1%. In ARKX, SpaceX remains the fund’s largest position, while it ranks fourth in ARKQ and tenth in ARKW.
Earlier, on the day SpaceX went public, Ark Invest bought approximately 3.3 M shares worth more than $500 M. The latest purchase underscores the firm’s commitment to investing in space and technology companies despite the volatility of the first weeks of trading.
SPCX opened at $150 and climbed to a peak of $225.64 but quickly pulled back amid weaker market sentiment and news of the debt offering.