Ark Invest Buys $18.3 Million of SpaceX Stock After Shares Fall Below IPO Price

Ark Invest, the investment firm led by Cathie Wood, bought additional SpaceX shares after the stock fell below its IPO price.

BlockBeats reported on July 19 that Ark disclosed in a July 17 filing that it purchased 147,623 shares of SpaceX for about $18.3 million. The purchase was made through four of Ark Invest’s actively managed exchange-traded funds.

SpaceX closed at $123.99 that day. The stock fell as low as $122.12 intraday, briefly dropping below its IPO price.

The latest pullback appears to have been viewed by Ark as a buying opportunity. The firm also bought $52 million of SpaceX stock through four of its ETFs last week.

Ark Invest has put a total of $475 million into SpaceX since the company went public last month.

Separately, SpaceX Chief Executive Officer Elon Musk wrote on X on July 18 that "as time goes on, the probability that a company maintaining a large short position against SpaceX will survive is very low."