Space Exploration Technologies Corp. Class A Common StockSPCX
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Impact on stocks 1
Space Economy
Space Exploration Technologies Corp. Class A Common StockSpace Exploration Technologies Corp. Class A Common StockCathie Wood's ARK Invest purchased an additional 210,121 shares of SpaceX on June 22, doubling down on the position after the stock suffered its steepest decline since going public. The purchases were spread across four ETFs, with the ARK Innovation ETF acquiring 131,837 shares, the ARK Autonomous Technology & Robotics ETF adding 43,486 shares, the ARK Next Generation Internet ETF buying 21,506 shares, and the ARK Space Exploration & Innovation ETF taking 13,292 shares. This follows ARK's earlier acquisition of 3.29 million SpaceX shares on June 12, signaling strong conviction in Elon Musk's newly public space and AI company after its record-breaking IPO. The latest buying came after SpaceX plunged 16.4% on Monday, extending a three-day decline to 23% and wiping out more than $600 billion in market value, with shares falling another 3.7% in premarket trading Tuesday. Despite the selloff, SpaceX still commands a market capitalization of more than $2 trillion.