On Tuesday, Cathie Wood’s Ark Invest stayed active in a volatile tech tape, adding to several headline growth names while trimming others. The most notable move was another broad push into SpaceX (NASDAQ:SPCX), followed by sizable trades in Tesla Inc. (NASDAQ:TSLA), Nvidia Corp. (NASDAQ:NVDA), Amazon.com Inc. (NASDAQ:AMZN) and Alphabet Inc. (NASDAQ:GOOGL).
The SpaceX Trade
Ark Invest continued buying SpaceX stock on Tuesday. The firm added shares across several ETFs as the stock of the Elon Musk-led company came under pressure, with Benzinga reporting that SpaceX had fallen more than 5% on Tuesday amid post-IPO weakness and lockup-related selling concerns.
The transactions were made through ARK Innovation ETF (BATS:ARKK), ARK Autonomous Technology & Robotics ETF (BATS:ARKQ), ARK Next Generation Internet ETF (BATS:ARKW) and ARK Space & Defense Innovation ETF (BATS:ARKX). Wood purchased 105,108 SpaceX shares worth $12.2 million, based on the stock’s closing price of $116.41.
The timing of the purchase also came amid renewed debate over the company’s valuation. In a separate Benzinga piece, investor Gary Black argued that investors are misreading the math behind both Tesla and SpaceX, while Ross Gerber said the pullback could create a buying opportunity. Ark’s move suggests the firm remains willing to add on weakness.
On Monday, Ark had purchased $14.1 million worth of SpaceX stock in a trend that has been continuing for some time.
The Tesla Trade
Ark also leaned into Tesla one of its long-running flagship holdings. The firm bought 26,920 shares in ARKK, along with 5,785 shares in ARKQ, 5,119 shares in ARKW and 2,457 shares in ARKX, signaling continued confidence in the EV maker despite ongoing market debate. The trade amounted to $12.4 million, based on the stock’s closing price of $307.44.
The Tesla purchase came as the stock remained closely tied to broader conversations around growth valuations, autonomous driving and the company’s long-term optionality, as reported by Benzinga.
Wood’s Tesla stock purchases continue. On Monday, she had purchased $8.6 million worth of shares.
The Nvidia Trade
Ark added aggressively to Nvidia, buying the chip giant across five ETFs. The purchases included 42,072 shares in ARKK, 13,639 shares in ARKQ, 11,984 shares in ARKW, 5,799 shares in ARKX and 5,471 shares in ARKF. The transactions were worth $15.6 million as the shares of the Jensen Huang-led company ended the day at $197.01.
The buying came after Nvidia shares faced broader chip-sector pressure, even as Jim Cramer defended the stock in an interview, calling the selloff "absurd" and saying he still owns it.
The Amazon.com Trade
ARKK sold 9,895 shares of Amazon through ARKK, trimming the e-commerce and cloud giant ahead of its earnings report. The transaction amounted to $2.3 million as the company’s shares closed at $230.86.
Benzinga noted that Amazon shares were trading flat before Thursday’s results, leaving investors focused on margin trends and guidance.
The Alphabet Trade
ArkK also sold 6,820 Class A shares of Alphabet, cutting back on the parent of Google as the company faced fresh antitrust pressure in Europe. The transaction was worth $2.3 million, based on GOOGL’s closing price of $333.71 for the day.
It was reported that Google’s legal risk deepened after an EU ruling raised the possibility of a multibillion-dollar penalty.
Other Key Trades
Kratos Defense and Security Solutions Inc. (KTOS): Ark bought across multiple funds, including 29,917 shares in ARKK, 14,473 shares in ARKQ and 6,146 shares in ARKX.
Rocket Lab Corp. (RKLB): Ark added 43,862 shares in ARKQ and 18,635 shares in ARKX.
BWX Technologies Inc. (BWXT): Ark bought 24,071 shares in ARKK, 7,761 shares in ARKQ and 3,298 shares in ARKX.
Intuitive Machines Inc. (LUNR): ARKQ bought 692,355 shares and ARKX added 290,672 shares.
Roblox Corp. (RBLX): ARKK sold 69,135 shares.
Robinhood Markets Inc. (HOOD): ARKK sold 43,420 shares.
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