Key Highlights
- ARK Invest acquired 54,815 shares of Tesla (TSLA) stock valued at approximately $21.9 million on Thursday
- By June 12, the date of SpaceX’s public debut, ARK maintained roughly 3.29 million shares in the company
- Following a peak of $225.64, SpaceX shares declined 5% on Wednesday and an additional 3.6% on Thursday, settling at $185
- ARK liquidated 721,279 Roku shares representing approximately $99 million in value
- The firm also purchased 223,690 Snowflake shares totaling roughly $52.4 million
Cathie Wood’s investment firm ARK Invest re-entered a position in Tesla (TSLA) stock on Thursday following a sell-off from the previous week. This strategic move occurred just days after the firm established a substantial stake in SpaceX during its initial public offering.
On June 18, ARK acquired 54,815 shares of Tesla stock distributed across two separate funds. The investment was divided between the ARK Innovation ETF and the ARK Next Generation Internet ETF, representing approximately $21.9 million based on Tesla’s closing price of $400.49.
Within the ARK Innovation fund, Tesla (TSLA) stock continues to hold the number one position, accounting for 9.7% of total assets. Meanwhile, it represents the second-largest allocation in ARK Next Generation Internet at 8.6%.
This fresh Tesla stock acquisition follows ARK’s decision to reduce its holdings during the prior week. The divestment strategy appears designed to create portfolio space for SpaceX, which launched its IPO on June 12.
SpaceX Stake Details
As of June 12, ARK’s portfolio included approximately 3.29 million SpaceX shares distributed throughout multiple ETFs. Details remain unclear regarding whether these holdings originated from IPO allocation, secondary market acquisitions, or the average purchase price ARK paid.
SpaceX experienced an impressive initial performance following its $135 IPO pricing. The stock surged to an intraday peak of $225.64, marking a 67% increase. However, momentum reversed with a 5% drop on Wednesday followed by a 3.6% decline on Thursday, ending at $185.
This week, ARK’s Chief Futurist Brett Winton published commentary suggesting SpaceX could emerge as a formidable AI competitor, leveraging orbital server infrastructure to deliver computational power at more competitive rates than terrestrial alternatives.
Wood has consistently characterized Tesla as transcending its electric vehicle identity. ARK’s investment thesis emphasizes autonomous taxi services, robotics applications, and energy storage solutions. The firm maintains a $2,600 price forecast for Tesla (TSLA) stock by 2029.
Roku Divestment, Snowflake Expansion
Roku dominated ARK’s trading volume on Thursday. The firm divested 721,279 shares valued at approximately $99 million. This transaction extends a multi-day trend of systematically reducing exposure to Roku.
Conversely, ARK expanded its Snowflake position by acquiring 223,690 shares worth roughly $52.4 million. This investment signals sustained conviction in the cloud data analytics provider.
Within the biotechnology sector, ARK increased holdings in Eli Lilly, Generate Biomedicines, and Alamar Biosciences. Simultaneously, the firm reduced positions in Strata Critical Medical, Twist Bioscience, and Baidu.
These transactions illustrate ARK’s strategic reallocation from Roku toward Tesla (TSLA) stock, SpaceX, and Snowflake.
SpaceX concluded its inaugural trading week below its intraday peak but maintained significant elevation above its IPO price point. ARK’s substantial holdings position it among the most significant institutional stakeholders in the recently public aerospace company.
