TLDR
- ARK Invest acquired 210,121 shares of SpaceX valued at $32.5 million distributed across four ETFs on June 22
- The SpaceX stock price has plummeted 23% in a three-day span, erasing more than $600 billion in total market capitalization
- ARK has been systematically divesting its Roku holdings following Fox’s acquisition announcement
- The firm offloaded 163,192 Roku shares valued at roughly $22.1 million across three different funds
- Wood projects that orbital data center technology could multiply SpaceX’s revenue capabilities by 10 to 20 times
Cathie Wood’s investment firm, ARK Invest, acquired 210,121 shares of SpaceX on June 22, representing approximately $32.5 million in total value. The investment was distributed among four exchange-traded funds: ARK Innovation, ARK Autonomous Technology & Robotics, ARK Next Generation Internet, and ARK Space & Defense Innovation.
Space Exploration Technologies Corp., SPCX
This significant purchase followed a dramatic 16.4% single-day decline for SpaceX on Monday. The company’s shares have now experienced a cumulative 23% drop across three consecutive trading sessions following its initial public offering.
This rapid three-day descent eliminated over $600 billion from the company’s market capitalization. Despite this substantial decline, SpaceX maintains a market cap exceeding $2 trillion, securing its position as the seventh-largest company globally by valuation.
ARK initially established its SpaceX holdings on June 12, purchasing 3.29 million shares distributed across these same four funds immediately following the company’s historic IPO. Monday’s transaction represents a strategic expansion of that original stake.
Wood has highlighted orbital data center technology as a fundamental driver behind her investment conviction. According to ARK’s preliminary analysis, this emerging business segment could amplify SpaceX’s revenue generation capacity by a factor of 10 to 20 beyond existing forecasts.
SpaceX shares declined an additional 3.7% during premarket hours on Tuesday, indicating a potential fourth consecutive session of downward pressure.
ARK Continues to Exit Its Roku Position
Simultaneously, ARK Invest divested 163,192 shares of Roku distributed across three funds — ARK Blockchain & Fintech Innovation, ARK Innovation, and ARK Next Generation Internet. Based on Roku’s closing price of $135.20, the transaction value totaled approximately $22.1 million.
Roku’s stock experienced a 2.08% decline on Monday. The streaming platform company recently unveiled a strategic collaboration with Fox, designed to integrate Fox’s sports, news, and entertainment programming into the Roku ecosystem.
ARK initiated its Roku divestment strategy last week following the announcement that Fox would be acquiring the streaming company. The investment firm has now liquidated millions of dollars in Roku stock over several trading sessions.
ARK executed additional portfolio adjustments on Monday. The firm purchased 489,584 shares of Roblox across three funds, divested 104,491 shares of Strata Critical Medical, and sold 20,284 shares of Twist Bioscience.
SpaceX concluded Monday’s trading session at $154.60 per share, significantly below its IPO debut pricing. ARK’s expanded SpaceX position demonstrates a conviction that the current price weakness represents a strategic entry point rather than the beginning of an extended downtrend.
The upcoming trading sessions will reveal whether SpaceX can find support and reverse course after four consecutive days of selling momentum.
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