Ark Invest Bought $36M in SpaceX Stock This Week Even as Price Crashes

Cathie Wood has once again doubled down on one of her biggest investment bets. Ark Invest purchased another 276,056 shares of SpaceX between July 13 and July 15. This came despite the stock’s decline following its IPO.

Here is every move Cathie Wood and Ark Invest made in the stock market today 7/15 pic.twitter.com/WXAdwKkBYf

— Ark Invest Tracker (@ArkkDaily) July 16, 2026

The latest purchases are worth around $36.16 million, based on a share price of about $131. The buying spree also comes at a time when many investors are questioning the stock’s potential to regain its position in the market.

SpaceX draws more buying from Cathie Wood

Ark Invest has been a top investor in the SPCX stock since the company went public last month. The firm has acquired 624,781 shares in July alone. Those holdings are worth about $81.8 million.

The company had begun investing in SpaceX way before its public listing through its venture-focused fund and continued basically continued the trend after the IPO.

In fact, none of Ark’s ETFs have sold a single share since the stock started trading publicly.

The firm bought 44,000 shares on one day, followed by 181,000 shares on another trading session. Then they added 117,000 more shares before the week ended.

The strategy suggests that Wood sees the recent decline as an opportunity rather than a reason to step aside. Ark Invest is known for buying the dip in stocks.

Her support for Elon Musk has been maintained over the years. Speaking on CNBC, Wood said difficult periods usually bring out Musk’s best work. “These difficult times spur Elon’s creativity,” she said.

Stock falls more than 40% from its peak

After its launch on June 12, shares surged 19% on the first day of trading. The rally pushed Elon Musk’s net worth above $1 trillion. However, the momentum did not last.

The stock closed below its $135 IPO price for the first time and has now fallen about 40% from its post-listing high of $225.64. The stock dropped for five straight trading sessions and is down 42% from its peak.

 

Investors are concerned about its valuation, with the company trading at 45x estimated 2026 sales. There are also worries that selling pressure could increase when early investors become eligible to sell shares after the earnings report. About 20% of shares are expected to be available for trading once lock-up restrictions expire.

Analysts still see long-term potential

Many analysts are projecting significant upside ahead. TipRanks data showed that 29 analysts arrived at an average price target of $243.81. This implies about an 85% upside from current levels. Some analysts are even more optimistic,  setting a target as high as $800 per share.

Last week, Citi updated the stock with a Buy rating and set a $200 price target. The bank said that this target could be conservative, especially if Starship successfully achieves commercial scale.

Starship is one of the company’s most important growth drivers. The fully reusable rocket is designed to lower launch costs while increasing payload capacity.

Source:: Ark Invest Bought $36M in SpaceX Stock This Week Even as Price Crashes