Space

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<h2 id="ark-doubles-down-as-spacex-slides">ARK Doubles Down as SpaceX Slides</h2>
<p>Cathie Wood's ARK Invest has moved to increase its exposure to Space Exploration Technologies (<a href="https://x.com/search?q=%24SPCX&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$SPCX</a>) even as the stock retreats sharply from its post-IPO peak. <cite>ARK purchased a total of 210,121 SpaceX shares for approximately $32.5 million, spread across four of its ETFs.</cite> The move came on June 22, 2026, <cite>as $SPCX dropped 16.43% to close at $154.60, continuing a downward trajectory since its market debut rally.</cite></p>
<p>The buying is a follow-on to ARK's initial, far larger commitment at the IPO itself. <cite>ARK built a stake of nearly 3.3 million SpaceX shares worth more than $500 million on the day of the company's record-setting IPO.</cite><cite>SpaceX priced its IPO at $135 per share on June 11, 2026, and opened trading at $150 on June 12, before closing at $160.95, a gain of nearly 20% on its debut.</cite></p>
<p><cite>ARK Innovation ETF (ARKK) now holds 1.63 million shares of SpaceX worth almost $301 million, building on the massive initial purchase of roughly 3.3 million shares worth over $500 million during the SpaceX IPO.</cite></p>
<h2 id="what-is-driving-the-selloff">What Is Driving the Selloff</h2>
<p>The post-IPO decline has been steep. <cite>SpaceX stock fell 16% on Monday, continuing a selloff that has seen shares tumble over the past three full days of trading after an initial rally from its record-breaking IPO.</cite><cite>Shares hit a high of $201.80 per share on June 16, but by Monday's close were down about 23% from that peak.</cite></p>
<p>A key factor weighing on sentiment is SpaceX's plan to tap the bond market. <cite>After raising more than $85 billion from its IPO, SpaceX is issuing bonds, reportedly seeking at least $20 billion in senior unsecured notes to repay outstanding bridge loans.</cite><cite>The move spooked investors who are "wary of the substantial cash required to fund technological ambitions," according to a note from Interactive Brokers senior economist Jose Torres.</cite></p>
<p>Despite the pressure, ARK's long-term thesis on SpaceX remains intact. <cite>An ARK model targets a $2.5 trillion enterprise value for SpaceX by 2030, with a bull case near $3.1 trillion.</cite><cite>Despite the recent losses in market capitalisation, the Elon Musk-led company remains the seventh most valuable company globally, with a market cap of around $2.04 trillion.</cite></p>
<p><em>Sources:</em><br><a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/26/06/60033677/cathie-wood-bets-32-5-million-on-spacex-dip-as-stock-crashes-from-debut-highs-ark-keeps-dumping-roku-shares" rel="noopener noreferrer nofollow">Benzinga: Cathie Wood Bets $32.5 Million on SpaceX Dip</a><br><a href="https://www.cnbc.com/2026/06/22/spacex-stock-ipo-rally-selloff.html" rel="noopener noreferrer nofollow">CNBC: SpaceX Stock Tanks 16%, Extending Slump Following Post-IPO Rally</a><br><a href="https://www.coindesk.com/markets/2026/06/15/ark-invest-bought-more-than-usd500-million-worth-of-spacex-shares-on-ipo-day" rel="noopener noreferrer nofollow">CoinDesk: ARK Invest Bought More Than $500 Million Worth of SpaceX Shares on IPO Day</a></p>

Cathie Wood and ARK Invest Are Bullish on SpaceX

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