Ark Invest Buys $32.5 Million in SpaceX Shares After Sharp Stock Decline

Cathie Wood’s Ark Invest purchased nearly $32.5 million worth of SpaceX shares on Monday after the aerospace company’s stock suffered a steep decline of more than 16% in a single trading session.

According to Ark Invest’s latest trading disclosure, the firm acquired 210,121 shares of SpaceX across four of its exchange-traded funds: ARK Innovation ETF (ARKK), ARK Autonomous Technology & Robotics ETF (ARKQ), ARK Next Generation Internet ETF (ARKW) and ARK Space Exploration & Defense ETF (ARKX).

Based on Monday’s closing price, the purchases were valued at approximately $32.48 million.

SpaceX Stock Gives Back Most Post-IPO Gains

SpaceX shares fell 16.43% to close at $154.60, wiping out most of the gains recorded since the company’s Nasdaq debut on June 12. The stock opened at $150 on its first trading day and surged to a high of $225.64 on June 16 before reversing sharply.

Despite the recent decline, SpaceX remains one of Ark Invest’s largest holdings. The company now ranks as the sixth-largest position in ARKK, representing 4.46% of the fund with a value of roughly $313.7 million. SpaceX is also the fourth-largest holding in ARKQ, the largest holding in ARKX and the tenth-largest holding in ARKW.

Bond Sale and Trading Activity Draw Investor Attention

On the same day, SpaceX announced its first bond offering, stating that proceeds would be used to repay outstanding borrowings under its bridge loan facility and support general corporate operations. The company did not disclose the size of the debt offering.

SpaceX entered public markets with an estimated valuation of about $1.77 trillion, making it one of the largest IPOs in history. Investor interest has remained high, with trading activity linked to SpaceX-related products generating billions of dollars in volume during the stock’s first week on the market.