ARK Invest Adds $56.9 Million to SpaceX as Weekly Top Purchase
Updated
Updated · Seeking Alpha · Jul 20
ARK Invest Adds $56.9 Million to SpaceX as Weekly Top Purchase
3 articles · Updated · Seeking Alpha · Jul 20
Summary
$56.9 million in additional SpaceX shares was ARK Invest’s largest purchase by value for July 13-17, making Elon Musk’s rocket company the firm’s top weekly allocation.
ARK ranked the SpaceX buy ahead of other additions, including X-Energy, signaling the fund’s strongest near-term conviction was in the private space company.
The move follows a separate report that ARK had recently bought $51 million of SpaceX stock after the shares fell 45% from their post-IPO high.
That buying streak underscores Cathie Wood’s continued push into disruptive-technology bets even as questions persist about SpaceX’s rich valuation.