Space Exploration Technologies Corp. Class A Common StockSpaceX reported first quarterly results with shares down 13.6% due to elevated capital spending and lockup expiration.

Cathie Wood's ARK Invest purchased 181,830 shares of SpaceX valued at about $22.8 million across several exchange-traded funds on Wednesday, extending its recent accumulation of the aerospace company. The purchase came a day after SpaceX reported its first quarterly results as a public company, with shares closing down about 13.6% on Wednesday as investors focused on elevated capital spending plans and a large post-IPO lockup expiration that increased the number of shares eligible for trading. ARK has continued adding to SpaceX despite the recent selloff, suggesting the firm remains constructive on the company's long-term outlook. SpaceX has also expanded spending on AI infrastructure, including increased purchases of Nvidia-powered systems to support its computing needs.
Space Exploration Technologies Corp. Class A Common StockSpaceX reported first quarterly results with shares down 13.6% due to elevated capital spending and lockup expiration.
NVIDIA CorporationARK Invest bought more SpaceX shares, showing confidence despite selloff.