Cathie Wood’s ARK Invest made a $14.1 million investment in SpaceX ahead of key August market catalysts, while also adding Solana exposure. ARK purchased 124,543 SPCX shares across four actively managed ETFs per a July 27 trade disclosure, and also acquired shares of the 3iQ Solana Staking ETF. The firm trimmed positions in Robinhood Markets and Solmate. SpaceX, which listed in June, faces its first quarterly earnings report on August 4, followed shortly by the expiration of its IPO lock-up period, releasing nearly a billion shares. The stock currently trades at roughly $115, below its $135 IPO price.
Cathie Wood’s ARK Invest increased its stake in Space Exploration Technologies Corp. 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.
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 valued near $30,000, while trimming positions in Robinhood Markets and Solmate.
Since SpaceX’s June listing, the firm has invested more than $475 million in the stock without selling any shares. SPCX has been trading at about $115, still below its IPO value of $135 and 49% below its peak of $225.64. However, according to ARK’s internal valuation methodology, SpaceX may be worth between $2.5 and $3.1 trillion within a decade.
Investors will center on two forthcoming catalysts. The company releases its first quarterly earnings as a publicly traded firm on August 4, and in only two trading days thereafter, the IPO lock-up period expires. According to Morgan Stanley analyst Adam Jonas, the stock will hold steady at $300 since a drop below $100 means the market does not see any value in SpaceX’s artificial intelligence unit.
The firm now operates two data centers dedicated to AI under the name Colossus and plans to set up a cloud AI network around orbit. The firm estimates the total addressable market to be worth $28.5 trillion, with AI products at $26.5 trillion. Investors will watch SpaceX’s earnings for indications of profitability, with the lockup expiry date also in focus.
