Cathie Wood Goes Galactic: ARK Drops ~$34M on SpaceX Stock While Shorts Cash Out $4B 🚀

Cathie Wood's ARK Invest has accumulated roughly $34.4 million in SpaceX (SPCX) shares across two separate buying waves in June and July, even as short sellers have pocketed about $4 billion in profits on the post-IPO decline. On Monday, June 20, when SPCX closed at $119.85, down 3.34% on the day, ARK's funds scooped up 170,634 shares across four ETFs at a combined value of approximately $20.45 million. The ARK Innovation ETF (ARKK) led the buys with 97,664 shares worth about $11.70 million, followed by the ARK Autonomous Technology & Robotics ETF (ARKQ) with 31,807 shares at roughly $3.81 million, the ARK Next Generation Internet ETF (ARKW) with 28,153 shares valued near $3.37 million, and the ARK Space Exploration & Innovation ETF (ARKX) with 13,010 shares at about $1.56 million. SPCX recovered 1.88% to $122.10 in premarket trading the following Tuesday.

ARK returned to the stock on Wednesday, July 22, after SPCX dropped 6.70% to close at $115.26, adding 121,384 shares for an estimated $13.99 million. ARKK purchased 76,261 shares worth about $8.79 million, ARKQ bought 24,884 shares for roughly $2.87 million, ARKW acquired 10,072 shares valued at almost $1.16 million, and ARKX picked up 10,167 shares worth approximately $1.17 million. The purchases coincided with a looming $116 billion share unlock tied to the IPO and came as speculation intensified around a potential Tesla-SpaceX merger, with reported merger odds reaching 90%.

Wood defended the strategy in an interview with Mornings with Maria, acknowledging the pullback but reiterating her long-term thesis on the Elon Musk-led aerospace company. "[Down] from its peak, it is," Wood agreed, adding, "but of course not from the IPO price. We think this could become the most important company in history, and I mean in global history." The buying spree has continued against a backdrop of elevated short interest, with bearish positions on the stock generating roughly $4 billion in mark-to-market gains since the IPO.