TLDR
- ARK Invest sold off SpaceX stock worth roughly $4.7 million on Thursday, following an even bigger sale the day before.
- The firm also unloaded AMD shares worth close to $14 million, pushing Thursday’s combined stock sales to about $18.7 million.
- ARK picked up Kratos Defense shares worth $6.7 million, building on earlier purchases of the stock.
- SpaceX stock slipped after hitting regulatory roadblocks in India, though the company later revealed a new spectrum agreement.
- Kratos Defense stock has dropped 45% this year even as the company posted 30.5% revenue growth last quarter.
Cathie Wood’s investment firm ARK Invest carried out a series of stock trades on Thursday, October 8. The firm cut its holdings in two companies while adding to a third.
ARK offloaded 29,048 shares of SpaceX, a sale worth close to $4.7 million. This followed a larger sale of 54,873 shares just one day earlier.
Space Exploration Technologies Corp., SPCX
The firm also sold 22,500 shares of Advanced Micro Devices, valued at nearly $14 million. Together, the two sales added up to about $18.7 million for the day.
At the same time, ARK added to its defense holdings. The firm bought 159,918 shares of Kratos Defense, a purchase worth around $6.7 million.
Starlink Hits Snags in India Before Spectrum Deal News
SpaceX stock dropped more than 4% on Thursday. The decline came after fresh regulatory hurdles emerged for its Starlink internet service in India.
Much of the groundwork for launching Starlink in India is already in place. But the company is still waiting on approvals, including the allocation of satellite spectrum, before it can begin service there.
Shortly after markets closed Thursday, SpaceX revealed a plan to purchase 800 MHz wireless spectrum from Grain Management.
The move could help Starlink Mobile pair satellite coverage with ground-based networks. That combination would let it go head-to-head with carriers like AT&T, Verizon, and T-Mobile.
Before any of that can happen, the deal still has to clear regulatory review.
Wall Street remains largely upbeat on SpaceX. Of 34 analysts tracking the stock, 27 rate it a buy, 5 stay neutral, and 2 suggest selling.
The average price target sits at $215.72, pointing to roughly 34% upside from Thursday’s closing price.
Chip Stocks Slide on AI Spending Fears
AMD shares fell nearly 4% on Thursday, part of a broader slide among chip stocks. The drop followed a report claiming OpenAI’s revenue was tracking $20 billion below earlier projections.
That news stirred worries that AI firms could pull back on chip spending down the road. Climbing bond yields and rising oil prices added further pressure on tech shares.
Even with Thursday’s dip, AMD stock remains up about 190% for the year.
The chipmaker keeps winning business from major AI players. Its deal with Anthropic calls for supplying up to two gigawatts of processors starting in 2027, and Oracle plans to use AMD chips in its own data centers.
Among 36 analysts who cover AMD, 30 rate the stock a buy. The average price target of $662.38 implies about 7% upside from Thursday’s close.
Kratos Defense stock has struggled through a tough year, falling 45% so far in 2026.
Investors have voiced concerns over the company’s heavy spending and the long timeline needed for projects like unmanned aircraft and hypersonic systems to pay off.
Even so, Kratos posted second-quarter revenue growth of 30.5% year-over-year, hitting $458.8 million. That led the company to raise its full-year growth outlook to between 18% and 23%.
Of 17 analysts covering Kratos, 16 rate it a buy. The average price target of $95 points to roughly 126% upside from current levels.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
