Cathie Wood Loads Up on SpaceX as Stock Hits New Low on July 21

Cathie Wood’s Ark Invest has deployed over $36 million to buy SpaceX stock as it tumbled to an all-time low of $119.85 on July 20, down 47% from its June intraday peak of $225.64. Wood accumulated over 4 million shares across four funds, making SpaceX a top-ten core holding. She also bought $11 million of Palantir and trimmed positions in AMD and Robinhood, signaling confidence in space and AI despite broader tech weakness.

SpaceX falls 20% in seven days, triggering Wood’s buying

SpaceX extended a seven-day losing streak on July 20, closing at $119.85, marking another all-time low just 25 trading days after its June 12 IPO at $135. The stock has now fallen below its IPO price, wiping out close to $1 trillion in market value. Three factors pressured shares: technical risks with Starship Flight 13, the impending expiration of the insider lock-up period, and deleveraging in global tech stocks. Retail investors and short-term traders panicked and cut losses.

Wood accumulates 4 million shares across flagship and specialty funds

From late June through July 21, Wood’s funds bought SpaceX repeatedly through ARKK, ARKQ, ARKW, and ARKX. Her flagship Ark Innovation ETF (ARKK) holds over 2 million shares, accounting for more than 4% of its weight and ranking sixth among its holdings. SpaceX is the top holding in the Ark Space and Defense Innovation fund. Wood views the pullback as a key buying opportunity, betting that long-term revenue growth will justify today’s depressed valuation.

Wood also loads up on Meta, Archer Aviation; trims AMD

On July 20, Ark Invest bought shares in Meta Platforms, which trades near its 52-week low despite revenue accelerating for the fourth consecutive year and daily active users reaching a record 3.56 billion. Ark also acquired 121,300 shares of Archer Aviation at $5.31, worth $644,103, after the company launched a hybrid defense VTOL platform. Meanwhile, Wood reduced holdings in AMD by 8,129 shares worth $4.1 million and trimmed Robinhood Markets by 41,322 shares worth $4.1 million, signaling selective conviction in innovation over semiconductor and fintech exposure.

Wood’s contrarian playbook bets on five-year horizon, not quarters

Wood is known for ignoring short-term obstacles and focusing on a company’s long-term picture. She buys during low periods when other investors are hesitant, viewing declines as entry points rather than warnings. Her strategy assumes that AI, space exploration, and precision medicine will compound over five years, even if quarterly earnings disappoint. For SpaceX, she is betting that Starship success and commercial revenue will eventually justify a valuation well above today’s $119.85 close.

Final Thoughts

Wood’s $36 million SpaceX accumulation and $11 million Palantir buy signal conviction in innovation despite near-term pain. Her contrarian playbook favors five-year compounding over quarterly sentiment, making her a key barometer for whether this tech pullback is a buying opportunity or a warning sign.

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