Cathie Wood’s firm purchased 210,121 SpaceX shares amid a 16% decline, valuing the stake at over $32.4 million.
ARK Invest acquired 210,121 SpaceX shares valued at $32.4 million after the stock fell 16% in a single session. The purchase was spread across four of the firm’s ETFs, signaling confidence despite the pullback.
SpaceX had previously surged 67% from its IPO price of $135 per share before the recent decline. The drop coincided with broader tech sector weakness, led by losses in semiconductor stocks like Micron and Sandisk.
The move reflects ARK’s strategy of buying high-growth assets during market dips, though no immediate price reaction was reported.