SpaceX Falls Below IPO Price, "Cathie Wood" Buys the Dip

Jin10 Data reported on July 19 that according to the July 17 trading disclosure from ARK Invest, the investment management company led by Cathie Wood ("Cathie Wood"), SpaceX (SPCX.O) shares fell below their IPO price last Friday, prompting ARK Invest to purchase $18.3 million worth of the stock. Four actively managed ETFs under ARK Invest collectively acquired 147,623 shares. On that day, the stock closed at $123.99, with an intraday low of $122.12. This purchase appears to be a firm increase in holdings during a period of price weakness rather than a hedging operation, as the transaction further expanded ARK's already significant position in the stock. According to data tracking ARK's holdings, as of the week ending July 10, the company had cumulatively purchased approximately $52.1 million worth of related shares through its ARKK, ARKQ, ARKW, and ARKX funds. Since SpaceX's IPO in June, ARK has invested over $475 million in total. This indicates that the team led by Cathie Wood has consistently viewed each price drop as a buying opportunity rather than a warning signal.