Cathie Wood's ARK Invest Buys $20.5M in SpaceX Stocks Amid Post-IPO Decline

Cathie Wood, CEO of ARK Invest known as 'Money Tree Sister,' purchased approximately $20.5 million worth of SpaceX shares on the 20th through four exchange-traded funds. The purchase of 170,634 shares occurred as SpaceX stock continued its decline following its initial public offering, trading at $119.85. ARK Invest has accumulated approximately 1.2 million SpaceX shares worth an estimated $162.5 million since the company's IPO, according to TheStreet reporting on the 22nd.

ARK Invest Purchases 170,634 SpaceX Shares Through Four ETFs

Wood purchased 170,634 SpaceX shares on the 20th through four ARK Invest exchange-traded funds, valued at approximately $20.5 million based on the closing price of $119.85. The flagship ARK Innovation ETF acquired 97,664 shares, while ARK Autonomous Technology and Robotics ETF, ARK Next Generation Internet ETF, and ARK Space Exploration ETF purchased the remaining shares.

SpaceX Stocks Trade 25.5% Below First-Day Close at $119.85

SpaceX closed at $119.85 on the 20th, marking an 11.2% decline from its IPO price of $135 and a 25.5% drop from its first-day closing price of $160.95. The stock has fallen approximately 47% from its post-listing peak. The purchase occurred as SpaceX stocks continued their downward trend following the initial public offering.

Wood Cites Reusable Rocket Technology and Starlink as Growth Drivers

Wood identified reusable rocket technology and satellite internet business Starlink as SpaceX's long-term growth drivers. ARK Invest stated that reusable rocket technology reduced launch costs by approximately 95%, from about $15,600 per kilogram in 2008 to under $1,000 currently. The firm projected that successful Starship development would enable large-scale satellite network construction and orbital infrastructure expansion.

FAQ

How many SpaceX shares has ARK Invest purchased since the IPO?

ARK Invest has purchased approximately 1.2 million SpaceX shares since the initial public offering, with an estimated investment amount of approximately $162.5 million.

What price did SpaceX stocks close at on the 20th?

SpaceX stocks closed at $119.85 on the 20th, which is 11.2% below the IPO price of $135 and 25.5% below the first-day closing price of $160.95.