ARK Invest Adjusts Tech Holdings Reducing SpaceX Stake
Cathie Wood’s ARK Invest made several notable moves on Tuesday, adjusting positions in major tech stocks and trimming its stake in SpaceX. The firm added to its holdings in Meta Platforms, Amazon, and CoreWeave, while reducing its investment in Space Exploration Technologies Corp. (SpaceX).
ARK Invest purchased a total of 10,789 shares of Meta Platforms, split between the ARK Fintech Innovation ETF (ARKF) and the ARK Next Generation Internet ETF (ARKW). The combined purchase was valued at approximately $8 million based on Meta's closing price of $738.88. The move comes amid ongoing debate about Meta’s AI investments, which analysts say could either drive significant growth or create substantial infrastructure costs.
The firm also added 36,050 shares of Amazon, worth around $9.2 million, as the stock closed at $256.29. Analyst Ivan Feinseth of Tigress Financial Partners reiterated a Buy rating for Amazon, highlighting the company’s AI investments and their potential to boost returns, AWS growth, advertising revenue, and Prime engagement. Feinseth also noted additional growth drivers like agentic commerce and faster delivery.
ARK Invest increased its stake in CoreWeave, acquiring a total of 97,639 shares through ARKK and ARKW. The purchase, valued at approximately $9 million, came as CoreWeave’s AI supercomputer rollout attracted renewed analyst attention. Cantor Fitzgerald analyst Brett Knoblauch maintained an Overweight rating and a $176 price target for CoreWeave, noting its production launch of Nvidia’s Vera Rubin NVL72 platform.
In contrast, ARK Invest sold 54,873 shares of SpaceX, worth about $9.4 million. The sale followed reports of a potential financing effort by SpaceX, involving $10 billion in bank loans and $30 billion in investment-grade debt, led by Apollo Global Management.