Space Exploration Technologies Corp. Class A Common StockSpaceX completed the largest IPO ever, raising $85.7B, and stock is up 23% from opening price.

Cathie Wood loaded up on SpaceX shares on its first trading day, making the company one of the biggest holdings across four Ark Invest funds. SpaceX completed the largest IPO ever on June 12, raising $75 billion, with the final amount reaching $85.7 billion after underwriters exercised an overallotment option. As of the June 18 market close, the stock was up 23% from its opening price of $150. In Ark Space & Defense Innovation, SpaceX holds the number one spot with a weight of more than 9%, while it ranks among the top five in Ark Autonomous Technology and Robotics and among the top ten in both Ark Innovation and Ark Next Generation Internet. The company generated $18 billion in total revenue last year, driven by $11.4 billion from its Starlink connectivity business, but posted a net loss of $4.9 billion due to heavy investment in growth areas including rocket launches, satellite internet, and artificial intelligence.
Space Exploration Technologies Corp. Class A Common StockSpaceX completed the largest IPO ever, raising $85.7B, and stock is up 23% from opening price.
Tesla IncCathie Wood made SpaceX a top holding across Ark funds, which is a positive portfolio move for ARK Investment Management.