Did Cathie Wood buy SpaceX stock again this week? Yes, and the numbers are pretty striking. ARK Invest added more than 20 million dollars worth of shares just one day before the stock jumped over 7% on Tuesday, and that kind of timing is exactly why the SpaceX stock rally prediction conversation keeps coming back up right now. It also comes after a rough stretch that started with a scrubbed Starship launch, so there is plenty riding on what happens next with Cathie Wood’s SpaceX stock buying.
Cathie Wood’s SpaceX Stock Purchases And Future Rally Outlook
Did Cathie Wood Buy SpaceX Stock Again This Week
Yes, and the buying has been pretty steady too. According to ARK’s July 20 disclosure, four of the firm’s actively managed funds bought a combined 170,634 SpaceX shares while the stock was still trading under its 135 dollar IPO price, worth about 20.45 million dollars at Monday’s close of 119.85. The ARK Innovation ETF took the biggest slice, roughly 97,664 shares worth about 11.70 million dollars, and three other ARK funds split the rest.
These Cathie Wood SpaceX stock purchases also followed a similar move on July 17, when ARK picked up 147,623 shares after SpaceX fell 5.43% to a fresh post-IPO low. Across both buys, Cathie Wood SpaceX stock holdings grew by 318,257 shares for around 38.75 million dollars, adding to the more than 475 million dollars already put into the company since the June IPO.
Also Read: Will SpaceX Stock Skyrocket? Cathie Wood Sees Massive Potential
SpaceX Stock Rally Prediction After The Starship Scrub
All of this volatility traces back to Starship, and more specifically to a scrub that happened at Starbase in Texas. Flight 13 was called off right at the pad on July 16, after several Raptor engines failed to ignite during the countdown.
Elon Musk said:
“Some of the engines didn’t start, triggering an automatic launch abort.”
Musk also said two Raptor engines would get swapped out before the next attempt, which is now set for Thursday, July 23. SPCX shares fell as much as 3.34% on Monday, dropping nearly 43% below their June 16 record high of 225.64 dollars, before bouncing back 8.52 dollars to 128.37 on Tuesday. That move gave a real boost to anyone still holding onto a SpaceX stock rally prediction, and it also handed ARK’s latest purchase an early paper gain of about 1.45 million dollars, at least on paper for now.
SpaceX Stock Price Outlook And The August Lockup
Right now, any SpaceX stock price outlook has to weigh two things pulling in opposite directions at once. On the brighter side, analysts cited a median target of 213.50 dollars using Reuters data, well above Tuesday’s close, and the stock was still trading about 6.63 dollars below its 135 dollar offer price even after the bounce. On the other hand, S3 Partners estimated that about 30% of SpaceX’s freely traded shares were shorted, and bearish traders had banked close to 4 billion dollars in paper profits over the prior month. There is also a bigger date coming up on the calendar, since SpaceX’s lockup expires on August 19, and that could free up 900 million more shares right as the company tries to hold onto its gains, which would make the whole Cathie Wood SpaceX stock bet a bit trickier to call.
These SpaceX stock purchases have moved back into the green on paper after Tuesday’s jump. So did Cathie Wood buy SpaceX stock at the right moment this time? It sure looks that way, at least for now. Whether that SpaceX stock price outlook keeps improving past the lockup date and Thursday’s rescheduled launch is still anyone’s guess, but the Cathie Wood SpaceX stock story is one of good timing so far.