Story
ARK Invest Boosts SpaceX and Coinbase Stakes Amid Market Pullback
Summary
Cathie Wood's investment firm has significantly increased its holdings in SpaceX and Coinbase, capitalizing on recent price drops while trimming its position in chipmaker AMD.
Cathie Wood’s ARK Invest has made substantial new investments in SpaceX (SPCX) and Coinbase (COIN), reinforcing its high-conviction strategy of buying into innovative companies during periods of market weakness, according to recent trading disclosures.
Buying the Dip
ARK Invest's most significant recent transaction was the purchase of 116,971 shares of SpaceX on July 10, 2026, valued at approximately $17.8 million. The firm described this as part of a "consistent buying pattern" throughout the week, occurring as the stock traded near its 52-week low after a one-month decline of over 31%.
In a similar move, the firm acquired 87,409 shares of cryptocurrency exchange Coinbase Global for roughly $13.85 million. These purchases were distributed across several of ARK's exchange-traded funds, including its flagship ARK Innovation ETF (ARKK), the Next Generation Internet ETF (ARKW), and the Fintech Innovation ETF (ARKF).
Portfolio Rotation in Action
To fund these purchases, ARK trimmed its position in a recent top performer. The firm sold 19,540 shares of Advanced Micro Devices (AMD), realizing approximately $10.68 million as the chipmaker's stock rallied.
AdThis rotation is characteristic of ARK's active management style, which involves taking profits from stocks that have performed well in the short term and reallocating capital to core, long-term holdings that it views as undervalued after a sell-off.
Market Context
The move signals strong conviction from ARK that the recent downturns in SpaceX and Coinbase are temporary pullbacks rather than indicators of fundamental weakness. SpaceX shares, while bouncing over 6% in recent trading to $127.27, remain more than 40% below their 52-week high of $225.64.
For investors, ARK's aggressive accumulation highlights a high-risk, high-reward bet on long-term disruption. The success of this strategy depends on whether these companies can execute on their growth theses and recover from their significant drawdowns.
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