ARK Invest bought 3.3 million shares of SpaceX on the day of listing: Cathie Wood's portfolio surged by 19%
On June 15, ARK Invest made a massive purchase of nearly 3.3 million shares of SpaceX on the first day of the company's trading on the stock exchange. This decision became one of the most notable moves by Cathie Wood this month. By the close of the first session, the value of this position had already exceeded $500 million — shares were placed at $135 and ended the day at $160.95, showing a gain of more than 19.2%.
Key details of the deal:
The bulk of the acquisition went to the flagship ARK Innovation ETF. SpaceX now accounts for 3.28% of its portfolio. This indicates that ARK Invest analysts see Elon Musk's space sector not just as a speculative asset but as a long-term growth driver. The purchase at $135, with shares immediately rising above $160, confirms an aggressive entry strategy at the start of listing, which is rare even among major institutional investors.
My expert analysis:
Such activity by ARK Invest on the IPO day is a clear signal to the market. Cathie Wood, known for her forward-looking deals in innovation, is clearly betting on SpaceX as a future monopolist in space logistics and communications. However, it is worth remembering that such purchases carry an increased risk of volatility in the first weeks of trading. Nevertheless, for ARK's long-term portfolio, this appears to be a strategically sound move rather than an impulsive bet.