New York, June 14, 2026, 09:03 ET
- ARK Invest picked up close to 3.3 million SpaceX shares during the IPO, Investor’s Business Daily reported.
- SpaceX started trading on Nasdaq and crossed a $2 trillion valuation, after its IPO raised $75 billion, a record amount.
- ARK has been selling out of Teradyne, Iridium, Twist Bioscience and Archer Aviation, shifting its portfolio heavily toward Elon Musk’s new public space company.
ARK Invest, run by Cathie Wood, ramped up buying in SpaceX after the Elon Musk company started trading publicly, shifting a week of portfolio selling into a new bet on a headline IPO. Investor’s Business Daily said ARK snapped up almost 3.3 million SpaceX shares on the first day. Reuters said SpaceX stock surged 19% in its Nasdaq debut, following a record $75 billion IPO.
SpaceX closed Friday at $160.95 per share, which values the company near $2.1 trillion, Reuters said. That puts it at number six among U.S. companies by market cap. The debut was enough to push Musk’s net worth into the trillions on paper as investors bought into a story built on rockets, satellites, and AI. Reuters pointed out that SpaceX isn’t profitable.
ARK spread its SpaceX shares fast into several of its active funds. According to Investor’s Business Daily, the ARK Innovation ETF picked up over 1.69 million SpaceX shares, making up 3.28% of the fund. ARK Autonomous Technology & Robotics added more than 736,000 shares, and ARK Space & Defense Innovation took in about 538,000 shares.
After heavy selling, buying started up again. Investing.com said ARK sold 207,509 shares of Teradyne, about $72.1 million. The firm also unloaded 400,301 shares of Iridium Communications for roughly $18.3 million, and 417,558 shares of Twist Bioscience, valued around $28.3 million. Other ARK sales showed up in Archer Aviation, Baidu, Roku, L3Harris, BWX Technologies, Cerus and Robinhood, according to the same report.
Archer Aviation drew separate attention as ARK was already reducing its stake in the electric air taxi maker. Simply Wall St reported that ARK unloaded more than $12.3 million of Archer stock from its ETFs in recent days. Archer is moving its Midnight aircraft through Phase 3 of the FAA type certification. Back in May, Archer said it was the first eVTOL company to close out Phase 3 of the FAA’s four-phase process. The company expects to start U.S. flights this year under the White House’s eVTOL Integration Pilot Program.
Archer CEO Adam Goldstein told investors the business is “far more than an air taxi company,” using the quarterly update to talk up a broader plan outside just passenger air taxis. Archer said it ended the first quarter with about $1.8 billion in liquidity. Net loss for the period came in at $217.7 million. The company kept up spending on certification, flight testing and production. Archer Aviation
SpaceX’s listing shifted sentiment in the wider space sector. Rocket Lab and Planet Labs each dropped about 8% on Friday, according to Reuters. Intuitive Machines was down 11%. AST SpaceMobile lost more than 12%. Space ETFs, including ARK Space & Defense Innovation ETF, finished between 1% and 6% lower. Talley Léger, chief market strategist at The Wealth Consulting Group, told Reuters investors might be “capital recycling” to make space for SpaceX. Reuters
ARK’s move again puts a spotlight on Wood’s strategy of focusing heavily on high-growth tech, even as some say valuations look high. Reuters reported SpaceX has $18.7 billion revenue for a price-to-revenue ratio near 112. Crosscheck Management CIO Todd Schoenberger told Reuters it’s still unclear if SpaceX can keep its early gains: “remains to be seen.” Reuters
