NEW YORK, July 18, 2026 – ARK Invest, the asset manager led by Cathie Wood, has once again bolstered its position in Space Exploration Technologies Corp. (NASDAQ:SPCX), purchasing 147,805 shares on Friday, July 17, according to the firm's daily trade disclosure. The transaction, valued at an estimated $18.3 million based on the day's closing price, represents a 20% increase in share count compared to Wednesday's acquisition of 122,807 shares.
Despite the larger purchase, ARK's buying activity accounted for only 0.18% of Friday's trading volume, down from 0.21% on Wednesday. This comes as trading volume surged 44% between the two sessions, signaling heightened market activity around the stock. The flagship ARK Innovation ETF (BATS:ARKK) was the primary vehicle for the purchase, acquiring 95,129 shares, or 64% of ARK's total reported SpaceX activity for the day.
Market Context and Price Action
SpaceX shares closed at $123.99 on Friday, marking a 14.7% decline for the week. The broader Nasdaq Composite fell 2.9% over the same period, widening SpaceX's underperformance to 11.8 percentage points. The stock's slide accelerated following Thursday's abort of the Starship launch, when four of 33 booster engines failed to ignite during the countdown.
SpaceX plans to replace two engines before the next attempt. Elon Musk indicated the launch window opens "early next week," with the company targeting Monday, July 20, according to Reuters. The test flight is seen as a critical milestone for the Starship program, which Space Capital CEO Chad Anderson described as "the centerpiece" of the long-term investment thesis for SpaceX in public markets.
Valuation and Analyst Outlook
Despite the recent selloff, analysts remain bullish on SpaceX. The average price target among 33 analysts tracked by Barchart stands at $234.45, implying potential upside of approximately 89% from Friday's close. However, the stock trades at nearly 95 times trailing sales, reflecting the high-growth expectations baked into its valuation.
Risks remain elevated. A second launch abort could trigger further losses, while the upcoming August lock-up expiration may introduce additional supply. Valuation compression is another concern. Conversely, a successful Starship flight could spark a sharp rebound, mirroring the magnitude of the recent decline.
Other ARK Activity
In addition to its SpaceX purchases, ARK trimmed its position in Deere & Co. (NYSE:DE), selling 5,781 shares on Friday after reducing by 6,833 shares on Wednesday. The moves suggest a continued rotation toward high-conviction space holdings.
ARK's trade disclosures are released after transactions are completed and are described by the firm as unofficial and unreconciled. The estimated closing values are based on Friday's $123.99 close and do not represent reported execution costs.
With U.S. cash markets closed on Saturday, all eyes are now on Monday's Starship attempt. Investors are focusing on execution rather than ARK's incremental purchases as they search for a sustainable bottom in SpaceX shares.
