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Ark Invest, led by Cathie Wood, made significant trades on Wednesday, involving Space Exploration Technologies Corp SPCX and Robinhood Markets Inc HOOD.
The SpaceX Trade
On July 22, Ark Invest made a notable move by purchasing shares of SpaceX across multiple ETFs, including ARK Innovation ETF ARKK, ARK Autonomous Technology & Robotics ETF ARKQ, ARK Next Generation Internet ETF ARKW and ARK Space & Defense Innovation ETF ARKX. This purchase involved a total of 121,384 shares, with the stock closing at $115.26. The total value of this investment amounts to approximately $14 million.
A 25-year First Trust study found that most U.S. IPOs underperform over time, with 59% posting negative returns within two years and the median stock falling 10.5%. For SpaceX, the research underscores the challenge of translating strong market enthusiasm into long-term financial performance. Although the company has growth drivers including Starlink and launch services, investors will be watching whether it can justify its premium valuation through consistent execution.
Meanwhile, CEO Elon Musk warned that investors maintaining significant short positions in the stock face a “very low” probability of success over time. The comments, amplified by media coverage, came as short interest has increased following the stock’s decline from its IPO highs.
The remarks echo Musk’s long-running criticism of short sellers during his time at Tesla, where he has repeatedly predicted losses for bearish investors. SpaceX shares rose more than 6% on Tuesday after recently hitting post-IPO lows.
Wood reaffirmed her bullish view on SpaceX despite the stock’s sharp decline from its post-IPO highs, calling it a company that could become "the most important company in global history" and highlighting its long-term potential through Starlink. Ark has been loading up on SpaceX stock lately, with the firm buying $20.5 million worth of stock on Monday.
The Robinhood Trade
Ark Invest also made a significant move by selling shares of Robinhood from its ARKK and ARKW ETFs. The sale involved 97,325 shares, with the stock closing at $104.48, resulting in a transaction value of approximately $10.2 million.
Despite a 1.77% drop in Robinhood’s stock price, analyst upgrades and increased revenue projections suggest a positive outlook for the company. Needham analyst John Todaro’s recent upgrade reflects strong performance in areas beyond cryptocurrency, boosting investor confidence.
Ark has been trimming its Robinhood positions lately; the firm sold 41,322 shares worth $4.1 million on Monday.
Other Key Trades
- Purchased 940,434 shares of Archer Aviation Inc. (ACHR) through ARKK, ARKX and ARKQ.
- Bought 206,310 shares of Prime Medicine, Inc. (PRME) via ARKG.
- Sold 40,062 shares of Iridium Communications Inc. (IRDM) from ARKQ and ARKX.
- Acquired 57,164 shares of Pony AI Inc. PONY through ARKQ.
Benzinga Edge Stock Rankings indicate SpaceX stock ranks poorly on Short, Medium and Long Price Trends.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: viewimage on Shutterstock.com
© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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This article Cathie Wood Bets Big on SpaceX Even as Elon Musk Warns Short Sellers — Ark Keeps Dumping Robinhood Shares originally appeared on Benzinga.com.
