Cathie Wood Goes To Space 🚀 While Cashing Out Of Robinhood's Hood

Cathie Wood's ARK Invest added roughly $18.3 million of Space Exploration Technologies Corp. (NASDAQ: SPCX) shares on Friday, July 17, snapping up the stock after it slid to a fresh post-IPO low. The purchases were spread across four actively-managed ETFs, according to the firm's daily trading report, and were executed at the closing price of $123.99.

The flagship ARK Innovation ETF (ARKK) led the buying with 95,129 shares valued at approximately $11.8 million. The ARK Autonomous Technology & Robotics ETF (ARKQ) acquired 30,464 shares worth about $3.78 million, while the ARK Space Exploration & Innovation ETF (ARKX) took on 12,611 shares valued at nearly $1.56 million. The ARK Next Generation Internet ETF (ARKW) added a further 9,419 shares, worth approximately $1.17 million. In total, ARK purchased 147,623 shares of SPCX.

The buying came as SPCX closed at $123.99, down 5.43% on the day after touching an intraday low of $122.12. The shares have fallen about 35% from the $135 IPO price and have weakened since going public amid lagging investor demand.

On the same trading day, ARK trimmed its position in Robinhood Markets, selling 20,089 shares via one of its ETFs, according to the daily trading disclosure.