Cathie Wood and ARK Invest Are Bullish on SpaceX

ARK Doubles Down as SpaceX Slides

Cathie Wood's ARK Invest has moved to increase its exposure to Space Exploration Technologies ($SPCX) even as the stock retreats sharply from its post-IPO peak. ARK purchased a total of 210,121 SpaceX shares for approximately $32.5 million, spread across four of its ETFs. The move came on June 22, 2026, as $SPCX dropped 16.43% to close at $154.60, continuing a downward trajectory since its market debut rally.

The buying is a follow-on to ARK's initial, far larger commitment at the IPO itself. ARK built a stake of nearly 3.3 million SpaceX shares worth more than $500 million on the day of the company's record-setting IPO. SpaceX priced its IPO at $135 per share on June 11, 2026, and opened trading at $150 on June 12, before closing at $160.95, a gain of nearly 20% on its debut.

ARK Innovation ETF (ARKK) now holds 1.63 million shares of SpaceX worth almost $301 million, building on the massive initial purchase of roughly 3.3 million shares worth over $500 million during the SpaceX IPO.

What Is Driving the Selloff

The post-IPO decline has been steep. SpaceX stock fell 16% on Monday, continuing a selloff that has seen shares tumble over the past three full days of trading after an initial rally from its record-breaking IPO. Shares hit a high of $201.80 per share on June 16, but by Monday's close were down about 23% from that peak.

A key factor weighing on sentiment is SpaceX's plan to tap the bond market. After raising more than $85 billion from its IPO, SpaceX is issuing bonds, reportedly seeking at least $20 billion in senior unsecured notes to repay outstanding bridge loans. The move spooked investors who are "wary of the substantial cash required to fund technological ambitions," according to a note from Interactive Brokers senior economist Jose Torres.

Despite the pressure, ARK's long-term thesis on SpaceX remains intact. An ARK model targets a $2.5 trillion enterprise value for SpaceX by 2030, with a bull case near $3.1 trillion. Despite the recent losses in market capitalisation, the Elon Musk-led company remains the seventh most valuable company globally, with a market cap of around $2.04 trillion.

Sources:
Benzinga: Cathie Wood Bets $32.5 Million on SpaceX Dip
CNBC: SpaceX Stock Tanks 16%, Extending Slump Following Post-IPO Rally
CoinDesk: ARK Invest Bought More Than $500 Million Worth of SpaceX Shares on IPO Day