Cathie Wood's ARK Invest purchased an additional 210,121 shares of SpaceX (SPCX) on June 22, 2026, following the stock's steepest decline since its public listing. The buys were spread across four ARK ETFs, including the flagship ARK Innovation ETF (ARKK). SpaceX shares had fallen 16.43% to $154.60 on the day of the purchase, extending a post-IPO selloff.
ARK Doubles Down on SpaceX
ARK Invest, led by CEO Cathie Wood, has a history of buying into weakness for high-conviction holdings. The June 22 purchase represents a significant bet on SpaceX, which went public earlier this year. ARK's daily trade disclosures show the firm added shares across ARKK, ARKW, ARKQ, and ARKX, though specific fund allocations were not detailed. The move comes as SpaceX's stock has struggled since its IPO, with the latest drop marking a new low for the space exploration company.
Market Context and ETF Performance
The broader ARK funds have also faced headwinds. ARKK closed at $78.43 on June 22, down 2.19% on the day, while the ARK Space & Defense Innovation ETF (ARKX) fell 3.47% to $33.36. Wood's strategy of buying during downturns has been a hallmark of her investment approach, often targeting disruptive innovation themes. SpaceX, as a leader in commercial spaceflight and satellite internet, fits squarely within that thesis.
SpaceX's Post-IPO Volatility
SpaceX's public debut was highly anticipated, but the stock has been volatile since listing. The 16.43% single-day drop on June 22 was the largest since the IPO, driven by broader market concerns and profit-taking. ARK's increased stake suggests confidence in SpaceX's long-term prospects, including its Starlink satellite network and Starship development program. The firm now holds a sizable position across its ETFs, though exact totals were not disclosed.