Cathie Wood Buys More SpaceX as August Catalysts Near
Key Takeaways
- •ARK Invest bought 124,543 SpaceX shares worth about $14.1 million across four actively managed ETFs on July 27.
- •The firm also added 4,799 shares of the 3iQ Solana Staking ETF while trimming positions in Robinhood and Solmate.
- •SpaceX has traded around $115, below its $135 IPO price and well under its post-listing high of $225.64.
- •SpaceX will report its first quarterly earnings as a public company on August 4, followed two trading days later by a lock-up expiration that could release nearly a billion shares for sale.
- •Morgan Stanley analyst Adam Jonas said the stock could hold at $300, citing SpaceX’s AI unit as a key part of the valuation.
Cathie Wood’s ARK Invest increased its stake in Space Exploration Technologies Corp. (NASDAQ: SPCX) while adding exposure to Solana, reinforcing its conviction in disruptive technologies despite recent market weakness. The moves come just days before SpaceX reports its first earnings as a public company and faces a major lock-up expiration.
Source: Cointelegraph’s X Post
Cathie Wood Bets Bigger on SpaceX and Solana
According to ARK Invest’s July 27 trade disclosure, the firm purchased 124,543 SPCX shares worth about $14.1 million across four actively managed ETFs. It also acquired 4,799 shares of the 3iQ Solana Staking ETF (SOLQ.U) valued near $30,000, while trimming positions in Robinhood Markets (NASDAQ: HOOD) and Solana treasury company Solmate.
The latest purchases underline ARK’s continued focus on high-growth sectors. Since SpaceX’s June listing, the firm has invested more than $475 million in the stock without selling any shares. Wood continues to treat recent weakness as a buying opportunity rather than a signal to reduce exposure.
Also Read: SpaceX Stock Drops Below IPO Price Ahead of Major Share Unlock
SpaceX Faces Critical August Test
SPCX has been trading at about $115, still below its IPO value of $135 and far below the highest level it reached after going public, which was $225.64, a 49% decline from that peak.
According to ARK’s internal valuation methodology, SpaceX may be worth between $2.5 trillion and $3.1 trillion within a decade.
Investor attention will center on two upcoming catalysts that could provide fresh information on the company’s business mix and shareholder base. SpaceX will release its first quarterly earnings results as a publicly traded company on August 4. Two trading days later, the IPO lock-up period expires, and nearly a billion shares become available for sale.
SpaceX AI Business Fuels $300 Price Target
Even with the approaching end of the lock-up period and elevated volatility, some analysts remain constructive. According to Morgan Stanley analyst Adam Jonas, the stock will hold steady at $300, saying that a drop below $100 would imply the market assigns no value to SpaceX’s artificial intelligence unit.
The company is expanding its ambitions beyond rockets and satellites to include AI. It currently operates two AI-focused data centers under the name Colossus and plans to build a cloud AI network around orbit. The company estimates its total addressable market at $28.5 trillion, with AI products representing $26.5 trillion.
What Happens Next?
Investors will be watching SpaceX’s earnings for any signs of profitability and growth in its AI and satellite businesses. The report will also be a first look at how the company is presenting its public-market story after June’s listing.
After that, attention will shift to the lock-up expiration to see whether early investors begin selling. ARK’s continued share purchases, along with its Solana exposure, suggest Cathie Wood remains willing to absorb volatility.
Also Read: SpaceX Stock Surges Into Focus as Alphabet Reveals $94.1 Billion Investment