Key facts
- ARK Invest purchased nearly $530 million worth of SpaceX shares during its IPO.
- The investment was distributed across four ARK ETFs: ARKK, ARKW, ARKQ, and ARKX.
- ARKK Innovation ETF made the largest investment, acquiring shares valued at $272.2 million.
- SpaceX's IPO valued the company at approximately $1.77 trillion, rising to $2.11 trillion.
- SpaceX shares closed their debut trading day up 19.22% at $160.95.
Cathie Wood’s ARK Invest has made a substantial investment in SpaceX, acquiring nearly $530 million worth of shares during the company's initial public offering. The investment was executed across four of ARK's exchange-traded funds: ARKK, ARKW, ARKQ, and ARKX.
The ARKK Innovation ETF led the purchases with approximately $272.2 million invested, making SpaceX a significant holding within its portfolio. The ARK Autonomous Technology & Robotics ETF, ARK Next Generation Internet ETF, and ARK Space Exploration & Innovation ETF also contributed to the total investment, valued at over $529.7 million at the closing bell on June 12.
SpaceX's public debut was marked by strong investor demand, with shares opening at $172, a 27.4% increase from its IPO price of $135. The company's IPO aimed to raise $75 billion, issuing 556 million shares and valuing the company at approximately $1.77 trillion pre-IPO, which surged to $2.11 trillion post-offering, making Elon Musk the world's first trillionaire. The stock concluded its first trading day up 19.22% at $160.95.
In parallel with its SpaceX acquisition, ARK Invest engaged in significant selling activity across its other holdings, including major stakes in Tesla, Roku, AMD, Rocket Lab, Cloudflare, and CrowdStrike, potentially reallocating capital towards the SpaceX investment.