Alibaba Group Holding LtdARK sells Alibaba shares to fund SpaceX purchase, indicating reduced conviction
ARK Invest CEO Cathie Wood invested about $7 million into SpaceX, buying the dip less than a month after its historic IPO. This marks the third time ARK has bought SpaceX shares since the IPO, following a roughly $500 million purchase on debut day and an additional $32 million after the first major selloff. To free up cash, Wood sold approximately 570,000 shares of Alibaba, a position ARK reopened last year with a $16.3 million investment after a four-year absence. ARK's flagship Innovation ETF now holds 1.78 million SpaceX shares worth nearly $266 million, making it the fund's seventh-largest holding at 4% of total holdings. SpaceX stock was trading at $149 per share, down 13% over five days and 29% from its highest close of $211, while ARK's research envisions an enterprise value of $3.1 trillion by 2030 driven by AI, data centers, and aerospace.
Alibaba Group Holding LtdARK sells Alibaba shares to fund SpaceX purchase, indicating reduced conviction
Astera Labs, Inc.
Space Exploration Technologies Corp. Class A Common StockARK Invest buys SpaceX dip, signaling confidence; ARK's research projects $3.1 trillion enterprise value by 2030