On July 28, SpaceX shares hit a new all-time low, yet Cathie Wood’s Ark Invest keeps buying. Wood explained that the stock price doesn’t reflect the firm’s edge thanks to the Starship program.
She pointed out how unusual the current market behavior is, describing it as a ‘wall of worry’ climb rather than the typical end of a bull run. According to Wood, bull markets usually end when optimism peaks, not when prices slump amid good news.
Ark’s chief futurist Brett Winton highlighted the importance of the Starship splashdown, emphasizing that its intact heat shield could unlock true reusability. This breakthrough may slash launch costs dramatically, from $570 to $100 per kilogram, potentially tripling SpaceX’s revenue and EBIT by 2031 and increasing even more by 2036.
Ark Invest has been steadily buying SpaceX shares privately and plans to continue after the expected IPO in June 2026. They currently hold over 3.9 million shares valued at more than $420 million.
SpaceX shares have fallen over 20% below IPO pricing, trading around $107.34 recently and dropping nearly 35% in the last month, marking a sharp sell-off. However, Wall Street analysts remain optimistic. Morgan Stanley’s Adam Jonas reiterates a Buy rating with a $300 target, suggesting the stock could climb almost 180%. Other analysts average a 12-month price target near $239, hinting at a 120% upside.
Wood’s confidence stems from these fundamentals and the potential of Starship’s technology to transform space launch economics despite the rough patch in share price.
This material is for informational purposes only and is not financial advice.
