Cathie Wood’s Ark Invest has purchased about $52.1 million of SpaceX stock, lifting its investment since the June IPO above $475 million as the shares trade below their $135 offer price.
Summary
- Ark Invest bought $52.1 million of SpaceX shares as the stock fell below its IPO price.
- SpaceX has dropped about 42% from its $225.64 post-listing record.
- A strong descending channel keeps $128–$130 support and $133–$135 resistance in focus.
According to Ark Invest Tracker, Ark bought the shares through its ARKK, ARKQ, ARKW, and ARKX exchange-traded funds during the week ending July 10. The purchases followed roughly $444 million of buying around SpaceX’s June 12 market debut.
Wood’s latest move came as SpaceX lost much of its early IPO gain. After opening at $150 and reaching $225.64 shortly after its listing, the stock closed at $131.11 on Thursday, according to Yahoo Finance.
At that price, SpaceX has fallen about 42% from its record and closed below the $135 IPO price for the first time. Thursday also extended the stock’s losing run to five sessions.
Ark’s buying reinforces its long-term conviction
Ark’s renewed buying indicates that Wood has treated the decline as an opportunity to expand her position. Still, the investment firm has not provided a short-term price forecast tied to its latest purchases.
The position also carries valuation and supply risks. According to Reuters, SpaceX trades at about 49 times revenue, compared with roughly 15 times for Tesla, while the company’s market value has fallen to around $1.8 trillion.
Selling pressure could increase when employee and early-investor restrictions begin expiring in August. Reuters reported that the first lockup release could make 911.5 million shares available after SpaceX publishes its initial earnings results, although unlocked shareholders would not be required to sell.
Bearish traders have already profited from the retreat. Data from Ortex Technologies, cited by Reuters, showed that short sellers had accumulated about $8.7 billion in paper gains since the IPO, with nearly 49% of the available shares on loan.
SpaceX stock remains trapped in a bearish channel
On the one-hour TradingView chart provided, SpaceX stock remains inside a descending channel that has formed through a series of lower highs and lower lows since early July. The latest candle closed near $131.07 after trading between $131.01 and $132.89.
Aroon readings on the chart show Aroon Down at 85.71%, compared with Aroon Up at 7.14%, indicating that sellers continue to control the short-term price structure. At the same time, an Average Directional Index reading of 31.22 shows that the existing trend retains notable strength.
The channel floor places immediate support around $128 to $130. Based on the chart structure, a confirmed break below that area could expose $125, while the upper channel boundary creates the first resistance zone between $133 and $135.
For a stronger recovery, the chart shows that buyers would need to reclaim the channel ceiling before challenging $140. Until such a breakout occurs, Ark’s latest purchase provides an institutional vote of confidence but does not reverse the stock’s bearish technical structure.
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