SpaceX Shares Surge 7%: Ark Invest Capitalizes on Record Low Dip
On Tuesday, shares of SpaceX (NASDAQ: SPCX) made a remarkable recovery, surging over 7% after plummeting to a record low of under $120 in the previous session. This represented a staggering 47% decline from its post-IPO high. The rebound was largely driven by Cathie Wood’s Ark Invest, which purchased over 170,000 shares across several of its ETFs.
These ETFs include:
- ARK Innovation ETF (ARKK)
- ARK Autonomous Technology & Robotics ETF (ARKQ)
- ARK Space Exploration & Innovation ETF (ARKX)
- ARK Next Generation Internet ETF (ARKW)
Last month, SpaceX completed one of the largest IPOs in US history, raising $75 billion at an IPO price of $135 per share. The stock initially soared to a high of $225.60 before experiencing a sharp pullback. This was due to broader pressure on high-growth technology stocks and increasing short-seller activity.
Wall Street analysts maintain an average price target of approximately $240. They highlight the company’s profitable Starlink satellite internet division — which boasted 10.3 million subscribers as of March 2026 — and growing AI compute revenues as key long-term catalysts.
Investment bank Macquarie has also weighed in, arguing that investors continue to underestimate SpaceX’s long-term AI potential alongside its core space business. They view the recent selloff as a buying opportunity.