Cathie Wood’s Ark Invest bought 210,121 shares of SpaceX after SPCX fell sharply on Monday. The purchase showed Ark’s continued demand for Elon Musk’s space company after its public listing. SPCX closed 16.43% lower at $154.60 as traders reacted to bond sale plans and post-IPO volatility. SpaceX also remained in focus after signing an AI computing deal with Reflection AI.
Ark Invest Expands SpaceX Position Across ETFs
Ark Invest bought the latest SpaceX shares across several of its exchange-traded funds. The firm added 131,837 SPCX shares through the ARK Innovation ETF, known by its ticker ARKK.
The ARK Autonomous Technology & Robotics ETF also bought 43,486 shares. Meanwhile, ARK Next Generation Internet ETF added 21,506 shares, while ARK Space Exploration & Innovation ETF bought 13,292 shares.
The latest purchase followed Ark’s earlier SpaceX buying during the company’s public market debut. Ark had already bought about 3.3 million shares during the IPO, building a large position in the company.
ARKK now holds about 1.63 million SpaceX shares worth nearly $301 million. That makes SpaceX one of the major holdings inside several Ark funds.
SPCX Falls After Bond Sale Announcement
SPCX closed at $154.60 on Monday after losing 16.43% during the session. The stock dropped from $176.75 and reached an intraday low near $154.
SPCX Stock | Source: Finance Yahoo
The fall came as SpaceX announced its first bond sale after its public listing. The company plans to use the proceeds to repay borrowings linked to its bridge loan facility.
The selloff also followed a neutral rating from KeyBanc. The rating added pressure as investors continued to reassess SpaceX after its high-profile IPO.
Trading volume reached about 165 million shares on Monday. That figure stayed below the average volume of more than 268 million shares.
Ark Buys Into Weakness After Post-IPO Volatility
Ark Invest made its purchase after SPCX moved sharply lower from recent levels. The trade showed the firm added exposure while many investors were taking profit.
SpaceX shares had gained strong attention after their public debut. However, the stock later faced selling pressure as traders reacted to valuation, debt plans, and broader market swings.
The latest move fits Ark’s long-running strategy of buying companies tied to advanced technology. Cathie Wood has often backed firms linked to space, automation, artificial intelligence, and internet infrastructure.
Still, Ark’s purchase came during a volatile period for SPCX. The stock slipped another 1% in overnight trading to $152.93 after Monday’s close.
SpaceX Signs AI Computing Deal With Reflection AI
SpaceX also signed an AI computing deal with Reflection AI worth up to $6.3 billion. The agreement added another business line to the company’s current market story.
The deal connects SpaceX with the demand for AI infrastructure. It also comes as investors watch how the company uses its systems beyond rockets and satellite internet.
Elon Musk has set a target for SpaceX to reach $1 trillion in revenue by 2030. Cathie Wood has also said SpaceX could reach a $2.5 trillion valuation by that year.
