ARK Invest purchased $20.5 million worth of SpaceX shares on July 20, acquiring 170,634 stocks as prices hovered near $119.85. This move came despite the shares trading significantly below their $135 IPO price and follows a previous $32.5 million investment earlier this year during a dip.
SpaceX Stock Performance and ARK's Strategy
The SpaceX stock has witnessed a notable drop, tumbling from an initial $225 after its June IPO which raised approximately $86 billion, to its current price under $120, marking a decline of over 40% from peak levels. Reasons cited for this decline include profit-taking after intense market hype, valuation reassessment, a failed Starship V3 rocket test, and upcoming lock-up expirations that may increase selling pressure.
ARK spread its purchase across four ETFs: ARKK, ARKW, ARKQ, and ARKX. Over the year, the fund has accumulated around 3.3 million shares linked to SpaceX's Starlink and AI-related infrastructure ventures, reinforcing its focus on Musk's companies.
SpaceX also controls about 18,712 bitcoins worth nearly $1.19 billion at present prices, making it a significant corporate Bitcoin holder outside specialized treasury entities like MicroStrategy. ARK's buy-low strategy effectively increases exposure to this bitcoin-bearing company at a discount to IPO highs.
Parallel Movements in Robinhood and Other Stocks
On the same trading day, ARK divested 41,322 Robinhood shares valued at $4.1 million, continuing a trend of tactical profit-taking in the crypto-related brokerage stock. Robinhood's shares closed at $99.28, showing minor decline despite strong performance in 2026 driven by growth in its crypto and options business arms.
In related trades, ARK simultaneously increased its Meta Platforms holdings by $18.2 million while reducing its stake in Advanced Micro Devices by $4.1 million. These shifts shows ARK's broader inclination toward AI infrastructure investments over semiconductor exposure.
This material is for informational purposes only and does not constitute financial advice.
