Ark Invest Boosts SpaceX Stake by Over $16 Million as Shares Briefly Fall Below IPO Price

Deep News14:10

Ark Invest, the investment management firm led by Cathie Wood, executed significant trades on Wednesday, which included a further increase in its stake in Elon Musk's space exploration company.

The firm purchased shares of SpaceX through several of its funds, including ARKK, ARKQ, ARKW, and ARKX, acquiring a total of 122,807 shares. Based on SpaceX's closing price of $135.27 that day, these transactions were valued at approximately $16.6 million.

The stock price of SpaceX fell to around $132 during Wednesday's trading session, dipping below its initial public offering price of $135 for the first time. The share price has declined more than 30% from its peak of approximately $225.

It is noteworthy that Wood's funds also purchased SpaceX shares worth about $21.3 million on Monday.

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