Updated
Updated · Seeking Alpha · Jul 20
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.

Insights

As massive share unlocks loom, will early investors cash out and send SpaceX's volatile stock into a nosedive?
SpaceX's AI dream hinges on its Starship rocket. What if this multi-billion dollar gamble on new technology fails?