NEW YORK, July 17, 2026, 7:11 a.m. EDT
ARK Invest’s recent SpaceX buy showed an estimated paper loss of $1.09 million in Friday’s premarket trade. The figure was about $599,000 at Thursday’s close.
ARK acquired 122,807 shares on Wednesday, at a reported value of $16.7 million. The estimated average price is approximately $135.99, based on rounded trading figures.
SpaceX finished Thursday’s session at $131.11, slipping to about $127.15 in pre-market trade. Shares closed under the $135 IPO price for the first time.
The setback is significant as ARK raised its stake while supply risk was looming. SpaceX represented a 4.36% allocation in the ARK Innovation ETF (BATS:ARKK).
It surpassed Advanced Micro Devices NASDAQ:AMD, which stood at 4.11%. Circle Internet Group NYSE:CRCL made up 3.48%.
SpaceX and Circle together accounted for 7.84% of ARKK, which was 1.9 times larger than the fund’s holding in AMD.
| Holding | ARKK weight, July 16 | Latest reported ARK move | Investor comparison |
|---|---|---|---|
| SpaceX NASDAQ:SPCX | 4.36% | Acquired 122,807 shares; $16.7 million | 0.25 percentage points more than AMD |
| Advanced Micro Devices NASDAQ:AMD | 4.11% | Sold 9,742 shares; $5.34 million | Stake reduced |
| Circle Internet Group NYSE:CRCL | 3.48% | Added 220,012 shares; $13.91 million | Combined with SpaceX for 7.84% |
| Tesla NASDAQ:TSLA | 10.11% | — | Pair accounts for 78% of ARKK’s top holding |
ARK acquired 276,056 SpaceX shares on July 13 and 15 this week, spending approximately $36.1 million. For July, total purchases have climbed to 624,781 shares, with a valuation near $81.8 million.
Chip exposure was also cut back in the rotation. ARK offloaded 9,742 shares of AMD for $5.34 million and picked up 220,012 shares of Circle for $13.91 million.
ARK also acquired 49,003 shares of Ionis Pharmaceuticals NASDAQ:IONS, with the transaction totaling $2.69 million. Despite this move, the biotech stock was not the primary trade by value.
Operational risk appeared later as Starship’s launch was aborted following multiple engine failures at startup. Elon Musk said, “Most probable launch timing is early next week.” Reuters
Market supply poses a bigger risk for investors. Roughly 911.5 million shares held by employees and early investors will become available for trading two days after the initial quarterly report. Analysts anticipate the report will be released in early August.
The shares have a current value of approximately $123 billion, which is higher than the $86 billion now accessible for trading on Nasdaq.
Valuation provides limited upside. SpaceX traded at 49 times forecast revenue, compared with 15 times for Tesla. Jay Hatfield at Infrastructure Capital Advisors commented, “We won’t overweight it because they do have the lockup coming.” Reuters
As of 7:11 a.m. EDT, regular Nasdaq trading was yet to commence. Premarket activity was strong. Nasdaq futures dropped 2.2%, reflecting wide chip sector losses.
Risks: Liquidity during premarket trading remains low, heightening the potential for sharp moves in the opposite direction. Losses may increase on a failed launch attempt, heavier tech sector declines, or possible insider selling. Sentiment could improve if the launch succeeds.
Two events will be in focus in the coming week. Starship’s upcoming attempt may influence sentiment initially. However, the anticipated float expansion poses the greater portfolio risk.
