ARK Invest’s SpaceX purchases on Monday exceeded $32 million, as Cathie Wood’s firm added more than 21,000 SPCX shares across four ETFs while the stock extended a three-day losing streak.
The buying came after SpaceX (SPCX) closed at $154.60 on Monday, down more than 16% on the day and roughly 26% below its recent peak. On Tuesday, the stock traded around $158, recovering from a dip below $150, the level at which it began trading on June 12 after its IPO.
ARK Invest SpaceX Purchases in Context
Monday’s trades were not ARK’s first move into SPCX. On IPO day, the firm bought nearly 3.3 million shares, building a position worth more than $500 million by the end of that session, according to CoinDesk.
To fund those IPO-day purchases, ARK sold more than $325 million of stock across at least 13 other companies, CoinDesk reported. The firm’s ARK Venture Fund had already held SpaceX shares before the public listing, through a public-private crossover structure designed to carry positions from the private market into the public phase, as disclosed on the ARK Venture Fund portfolio page.
Monday’s purchases made up between 0.1% and 0.3% of the four ETFs receiving shares: ARK’s innovation, autonomous tech and robotics, next gen internet, and space and defense funds.
SpaceX IPO: Valuation, Volatility, and a Thin Float
SpaceX priced its IPO at $135 a share. As of Tuesday, shares were up about 5% from the open on their first day of trading and about 17% above the IPO price, while still sitting more than 28% below the post-IPO high.
Volatility was widely expected. Only roughly 4.3% of SpaceX shares are publicly traded, a small free float that amplifies price swings. That supply will increase as lockup periods expire on a staggered schedule in the coming months.
SpaceX submitted a confidential draft registration statement to the Securities and Exchange Commission (SEC) on April 1, 2026, targeting a valuation of $1.75 trillion and a potential raise of up to $75 billion, according to ARK’s own guide to the SpaceX IPO. The company listed on Nasdaq.
Beyond launch services and satellite connectivity, SpaceX’s SEC filings point to an expanding technology footprint. On June 5, 2026, SpaceX entered into a Cloud Service Agreement with Google LLC for access to compute capacity, as disclosed in a free writing prospectus filed with the SEC. If SpaceX fails to deliver access to the committed GPU capacity by September 30, 2026, Google may, after a one-month grace period, terminate the agreement or accept the GPUs provided with a corresponding pro rata fee reduction.
Separately, SpaceX disclosed plans in its SEC filings for potential deployment of orbital AI compute satellites as early as 2028, as part of its next-generation connectivity and AI infrastructure strategy, according to a SpaceX free writing prospectus.
ARK has been publicly bullish on SpaceX’s trajectory well ahead of the listing. Wood’s firm warned before the IPO that early trading would be volatile, citing retail participation and the restricted float. In a social media post after the initial drop, ARK stated: “Trading around IPOs is a very difficult game. One we don’t play. Be patient.”
The staggered lockup expiration schedule, and how quickly the free float expands, will be the clearest near-term test of whether the stock can hold above its IPO price of $135.
