SPCXB Jumps 7% After ARK Invest Adds $20M to SpaceX Stake

SPCXB News

SpaceX (SPCXB) rose 7.10% to $128.37 on Tuesday after ARK Invest disclosed a $20.45 million purchase of the stock made one day earlier. The firm bought 170,634 shares across four actively managed exchange-traded funds while the price traded below its $135 IPO level. The advance handed ARK an early unrealized paper gain of roughly $1.45 million, based on the $8.52 intraday move from Monday’s $119.85 close. Our reading of the tape shows the buy was timed just below the offer price, a level that has capped the stock since listing. The final return will depend on where the funds ultimately exit the position.

The latest purchase pushed ARK’s cumulative SPCXB exposure beyond $475 million despite persistent short interest and post-IPO losses. The disclosure shows the ARK Innovation ETF led with 97,664 shares valued near $11.70 million, followed by the Autonomous Technology and Robotics fund at 31,807 shares worth about $3.81 million. The Next Generation Internet ETF added 28,153 shares near $3.37 million, while the Space Exploration and Innovation fund rounded out the round with 13,010 shares close to $1.56 million. By spreading the same position across mandates with different themes, each portfolio gained identical exposure to a potential price recovery.

Tuesday’s buy followed an even larger accumulation on July 17, when four ARK funds acquired 147,623 shares worth roughly $18.3 million at that day’s $123.99 close. That transaction landed after the stock fell 5.43% to a fresh post-IPO low, underscoring a strategy of adding into weakness. ARKK again anchored the trade with 95,129 shares near $11.8 million, while ARKQ took 30,464 shares worth about $3.78 million. ARKX added 12,611 shares near $1.56 million and ARKW completed it with 9,419 shares worth roughly $1.17 million. The back-to-back purchases signal conviction even as the broader position sits underwater.

The buying comes against a steep drawdown. SPCXB closed below $120 after seven consecutive losing sessions, extending a slide that has erased more than $1 trillion in market value from its post-listing peak. The stock now trades roughly 47% under its record high of $225.64 and about 4.9% below the $135 IPO price. The scale of the retreat has pushed the name into bear-market territory well before the broader tape confirmed a trend, and the distance from its all-time high illustrates how quickly sentiment has reset since the offering priced.

The decline has become a touchstone in the debate over stretched AI valuations. Longtime bitcoin skeptic Peter Schiff argued that the drop below the IPO price shows AI equities, if not AI itself, have entered a bubble that may already be deflating. Compounding the pressure, Moonshot AI’s low-cost Kimi K3 model shifted the contest toward performance-per-dollar, with demand strong enough to force a pause on new subscriptions. Even so, semiconductor names held up: Nvidia, Broadcom and AMD rebounded and a major chip ETF gained 1.3%, while the wider AI narrative — from AI trading systems to AI crypto wallet products — kept investor attention.

Beyond valuation concerns, execution risk is weighing on SPCXB. A delayed Starship test and a cancelled Falcon 9 launch have raised questions about the timeline for satellite deployment, which remains central to the company’s long-term infrastructure ambitions. Investors are now watching three catalysts: an upcoming earnings report, the next Starship flight attempt, and the expiry of post-IPO lockup restrictions that could release additional supply into the market. Each carries the potential to either stabilize the stock or deepen the slide. Whether the sell-off reflects company-specific pressure or a broader repricing of AI-linked assets should become clearer as those events unfold.

COINOTAG’s proprietary 42-indicator composite S/R scoring engine rates the $123.06 support at 73/100 (STRONG), the sturdiest level on our map, driven by the confluence of a Fibonacci 0.000 retracement, the Donchian lower band, a bullish engulfing pattern and the pivot point. On the upside, the engine scores the $130.39 resistance at 52/100, built on the R2 pivot, a MACD cross and the Fibonacci 0.114 level. With spot near $128.18, up 4.89% on the day, 24-hour volume of $21.2 million, an RSI of 36.86 and a bearish MACD, momentum stays soft inside a sideways trend; perpetual funding and open-interest data were not disclosed. A close above $130.39 would open room toward $143.44, while a break of $123.06 — amid an Extreme Fear reading of 25/100 — would invalidate the near-term floor.