Overview
- Official ARK filings reported Wednesday show the firm bought roughly $7 million of Space Exploration Technologies shares across several ARK ETFs.
- To raise cash for the purchases, ARK sold about 570,000 shares of Alibaba, continuing a recent rotation away from some China holdings.
- ARK’s flagship Innovation ETF, ARKK, now holds about 1.78 million SpaceX shares, making SpaceX the fund’s seventh‑largest holding at roughly a 4 percent weight.
- The purchases follow earlier buy‑the‑dip moves: ARK was a major buyer on SpaceX’s IPO day and added about $32 million after a prior post‑IPO selloff.
- ARK’s strategy reflects a high‑conviction bet that SpaceX and Starlink could deliver outsized long‑term value, but analysts note strong near‑term volatility, high valuations and technical hurdles for ideas like orbital data centers.