Wood's ARK Increases Stake in SpaceX, Currently at a Loss
Kathy Wood's ARK has repeatedly invested in SpaceX (SPCX), which is currently in an overall loss position.
Since the IPO, ARK has invested over $475 million, with the latest purchase of $15 million made yesterday at approximately $123, while the current stock price is about $115.67.
The increase in stake is event-driven, with funds flowing from ARK's other holdings to SpaceX's long-term narrative, benefiting SpaceX shareholders and the rocket industry chain, while putting pressure on growth ETFs sensitive to short-term valuations.
Source: Public Information
ABAB AI Insight
Kathy Wood has been aggressively building her position in SpaceX since its IPO in June 2026, purchasing approximately 3.29 million shares worth over $400 million on the first day. She has continued to add to her position as the stock price fell from above $150, with multiple increases.
In terms of capital allocation, ARK diversifies through ETFs like ARKK, ARKQ, ARKW, and ARKX, selling existing holdings like AMD and Roku to free up funds, motivated by a bet on the long-term exponential growth from the reusability of Starship and the commercialization of Starlink.
Similar cases can be seen in ARK's early repeated investments in Tesla and bottom-fishing operations in Coinbase, currently in a phase of valuation digestion for high-growth stocks post-IPO, with believers continuing to increase their stakes.
This essentially represents capital concentration, where the mechanism of a belief-driven average cost strategy amplifies exposure during stock price declines, rapidly increasing the weight of a single narrative asset in the portfolio.
ABAB News · Cognitive Laws
The stronger the belief, the more frequent the increases in stake.
The average cost is ultimately tested by time.
Narrative assets attract the most capital when they decline.