Key facts
- ARK Invest acquired 121,384 SpaceX shares for approximately $14 million.
- Cathie Wood believes SpaceX could become the most important company in history.
- Gene Munster estimates a 90% chance of a Tesla-SpaceX merger in the coming years.
- Elon Musk noted significant overlap between Tesla and SpaceX operations.
Cathie Wood's ARK Invest significantly increased its stake in SpaceX, acquiring over 121,000 shares worth approximately $14 million as the stock experienced a 6.70% decline. This move comes as Wood publicly expressed strong conviction in SpaceX's long-term potential, calling it potentially the most important company in history.
Individually, ARKK purchased 76,261 shares, ARKQ acquired 24,884 shares, ARKW bought 10,072 shares, and ARKX added 10,167 shares. These recent acquisitions follow an earlier investment of around $20 million in SpaceX by ARK Invest this week.
Meanwhile, speculation surrounding a potential merger between Tesla and SpaceX has intensified. Analyst Gene Munster raised his probability estimate for such a combination to 90%, citing increasing operational overlap, particularly with the Terafab project. While Elon Musk acknowledged the growing synergy between the two companies, he refrained from discussing merger specifics during Tesla's second-quarter earnings call, stating it requires a more formal process.