Ark Invest picked up more than $500 million worth of SpaceX shares on IPO day
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ARK Invest bought nearly 3.3 million shares of SpaceX (SPCX) as Elon Musk's company went public in the largest IPO ever on Friday, building a stake worth more than $500 million by the end of the day.
Key facts
The shares, priced at $135 for the sale, closed at $160.95, rising more than 19.2% on their first day
An ARK model targets a $2.5 trillion enterprise value for SpaceX in 2030, with a bull case near $3.1 trillion, built off the company's $350 billion private valuation in 2024
ARK Invest bought nearly 3.3 million shares of SpaceX (SPCX) as Elon Musk's company went public in the largest IPO ever on Friday, building a stake worth more than $500 million by the end of the day
The ARK Innovation ETF (ARKK) did the bulk of the buying, ending the day with SpaceX at 3.28% of its portfolio
Summary
ARK Invest built a stake of nearly 3.3 million SpaceX shares worth more than $500 million on the day of the company’s record-setting IPO. Cathie Wood’s firm sold more than $325 million of stock across at least 13 companies in the days around the listing. ARK’s shift of risk capital from crypto toward high-growth names like SpaceX, alongside its $2.5 trillion base-case valuation target for the company by 2030, underscores how institutional investors are favoring AI and space IPOs over digital assets in the near term. The shares, priced at $135 for the sale, closed at $160.95, rising more than 19.2% on their first day.