Cathie Wood’s firm added 147,623 SpaceX shares across four ETFs as the stock hit a post-IPO low, while trimming a smaller Robinhood position.
Cathie Wood’s ARK Invest bought 147,623 SpaceX shares worth about $18.3 million across four ETFs after the stock fell 5.43% to a new post-IPO low of $123.99, having traded as low as $122.12 during the session. The purchase came with SpaceX closing 8.2% below its $135 offer price and extended a buying streak that has lifted ARK’s reported SpaceX investment since the company’s June IPO above $475 million. ARK Innovation ETF made the largest purchase with 95,129 shares, followed by ARK Autonomous Technology & Robotics ETF with 30,464 shares, ARK Space Exploration & Innovation ETF with 12,611 shares, and ARK Next Generation Internet ETF with 9,419 shares. During the same session, ARK also sold 26,002 Robinhood shares as Robinhood fell 5.72% to $99.96. The latest pressure on SpaceX shares followed the cancellation of Starship Flight 13 after at least two Raptor engines on the Super Heavy booster failed to ignite during pre-flight testing. Elon Musk later said the affected engines would be replaced, and the mission was rescheduled for July 20 at 6:45 p.m. ET.