Cathie Wood Loads $20M Into SpaceX While Shorts Pocket $4B 🚀

Cathie Wood's ARK Invest acquired more than $20 million worth of SpaceX shares on Monday, continuing to add to its position in the Elon Musk-led company that has declined sharply since its IPO. The purchases were disclosed in ARK's daily trading report.

ARK's buys came as SPCX closed at $119.85, down 3.34% on Monday, June 20. Based on that closing price, the combined value of the purchases came to roughly $20.45 million. The stock has since recovered 1.88% to $122.10 in premarket trading on Tuesday. The ARK Innovation ETF (ARKK) led the buying with 97,664 SPCX shares valued at approximately $11.70 million. The ARK Autonomous Technology & Robotics ETF (ARKQ) bought 31,807 shares for about $3.81 million, the ARK Next Generation Internet ETF (ARKW) acquired 28,153 shares for roughly $3.37 million, and the ARK Space Exploration & Innovation ETF (ARKX) purchased 13,010 shares for close to $1.56 million.

Wood's accumulation coincided with a surge in short seller profits tied to the post-IPO slide in SPCX. Short sellers have collectively booked approximately $4 billion in profits as the stock extended its losses following its public market debut. The trades underscore how hedge funds betting against the newly listed name have been among the biggest beneficiaries of the decline.

Ark's activity is being viewed in market commentary as a buy-the-dip move, given that the purchases were made while SPCX was trading below its IPO pricing range. ARK has been among the most active institutional buyers of SpaceX since the listing.

The contrast between Wood's buying and the $4 billion in short seller gains highlights the split in market sentiment surrounding Musk's flagship venture in its early weeks as a public company, with macro-focused funds stepping in while bearish traders continue to capitalize on the drawdown.