Ark Invest added $32.5 million worth of SpaceX stock to its portfolio on Monday, snapping up shares after the company's stock had dropped 16%. The purchase consisted of 210,121 shares, bought at the closing price under the ticker SPCX on Nasdaq.
$32.5 Million Purchase Details
The transaction was executed at Monday's close, according to regulatory filings. The exact breakdown of the buy — whether it was spread across multiple accounts or trades — wasn't disclosed in the available records. Ark Invest has been steadily building its position in SpaceX since the company's initial public offering.
Ark's Longstanding SpaceX Strategy
The firm, led by Cathie Wood, has routinely added to its SpaceX holdings over the past quarters. Monday's purchase follows a pattern of accumulation that began shortly after the rocket maker went public. The 16% slide in SpaceX's stock price before the buy gave Ark an opportunity to increase its stake at a lower valuation.
SpaceX, which trades on the Nasdaq, has seen its shares fluctuate widely since the IPO. The company continues to dominate the commercial launch market and has drawn investor attention for its Starlink satellite internet business and Starship development program.
Ark's move comes as the broader market remains volatile. The purchase signals the firm's confidence in SpaceX's long-term prospects, even after the recent dip. No further details about the allocation of the 210,121 shares across Ark's funds were immediately available.
