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

BlockBeats News, July 19th - According to a transaction disclosure by ARK Invest, led by "WoodKing" Cathie Wood, on July 17th, ARK Invest bought $18.3 million worth of SpaceX (SPCX.O) stock after the price fell below the IPO price on Friday. ARK Invest's four actively managed ETFs collectively purchased 147,623 shares. The closing price of the stock that day was $123.99, with an intraday low of $122.12. This purchase seems more like a firm increase in holdings during a price decline rather than a hedge, as the transaction further enlarged ARK's already significant position.

According to data tracking ARK's holdings, as of the week ending July 10th, the company had accumulated approximately $51.0 million in related stocks through its ARKK, ARKQ, ARKW, and ARKX funds, bringing ARK's total investment in SpaceX to over $475 million since the company went public in June. This indicates that Cathie Wood's team has consistently viewed each dip as a buying opportunity rather than a warning signal. (Jinse)