On July 15, 2026, ARK Invest purchased approximately 123,000 shares of SpaceX, valued at nearly $17 million, across four of its exchange-traded funds (ETFs). This strategic acquisition occurred despite a recent downturn in SpaceX's stock, which has seen declines in seven of the last nine trading sessions, hovering just above its initial public offering (IPO) price of $135.
SpaceX, the aerospace company founded by Elon Musk, is currently facing challenges related to its stock valuation, now estimated at around 45 times its projected sales for 2026. This high multiple has led to some skepticism among investors regarding its price sustainability. Adding to these concerns is a forthcoming share unlock event, where approximately 20% of shares held by early investors will become available for trading following the company’s second-quarter earnings release. This potential influx of shares is anticipated to exert additional selling pressure.
The timing of ARK's investment aligns with a significant milestone for SpaceX, as the company prepares for its 13th Starship test flight on Thursday at 6:45 p.m. Eastern Time. This test aims to deploy 20 Starlink V3 satellites. If successful, it could have a positive impact on investor sentiment surrounding the stock. The Starship is designed to carry payloads of up to 150,000 kilograms to orbit, significantly reducing launch costs compared to its Falcon 9 rocket, which can carry about 25,000 kilograms at higher costs.
In tandem with this acquisition, ARK also took steps to reduce its holdings in other companies, selling 6,833 shares of Deere & Co for about $4 million. This move is part of a broader strategy to decrease exposure to the agricultural machinery sector. Additionally, ARK trimmed its positions in Twist Bioscience and 10X Genomics, while increasing stakes in Beam Therapeutics and Kratos Defense.
Following the announcement of ARK's purchase, SpaceX shares experienced a slight drop of around 0.2% in premarket trading.
This material is for informational purposes only and does not constitute financial advice.
