Ark Invest Buys $32.5 Million in SpaceX Shares as SPCX Stock Drops 16%
Cathie Wood’s Ark Invest purchased nearly $32.5 million worth of SpaceX shares on Monday, even as the stock plunged over 16%.
Ark Invest Increases SpaceX Holdings
Ark Invest bought 210,121 shares of SPCX across its four ETFs — ARKK, ARKQ, ARKW, and ARKX. The total value of the purchase was approximately $32.48 million, based on Monday’s closing price.
This move comes as SpaceX’s public stock (SPCX) faced strong selling pressure.
SPCX Stock Plunges 16%
SpaceX shares (SPCX) fell 16.43% on Monday, closing at $154.60. The sharp decline erased most of the gains made since the company’s Nasdaq debut on June 12.
The stock opened at $150 on its first trading day and reached a high of $225.64 on June 16 before reversing course.
SpaceX Now a Top Holding for Ark ETFs
According to Ark’s Monday disclosure:
- SpaceX is now ARKK’s sixth-largest holding (4.46% weighting, worth $313.7 million).
- It ranks as the fourth-largest holding in ARKQ.
- It is the largest holding in ARKX.
- It is the tenth-largest holding in ARKW.
SpaceX Announces First Bond Sale
On the same day, SpaceX announced its first bond offering. The company plans to use the proceeds to repay its bridge loan in full, cover related costs, and support general corporate purposes. The size of the bond sale was not disclosed.
Strong IPO and Trading Activity
SpaceX made a high-profile debut on Nasdaq with a valuation of around $1.77 trillion. The IPO ranked among the largest in history by valuation.
Perp trading on Hyperliquid (HIP-3) saw massive activity:
- $1.4 billion in volume on the first trading day.
- Peak daily volume of $1.6 billion on June 16.
- Volume dropped to $43.3 million by June 21.
