- The SpaceX stock price dropped by 16%, while ARK Invest increased its share holdings.
- Starlink satellite internet service accounted for most of the company’s income, and AI contracts are part of its future growth strategy.
- The SpaceX stock price is testing support at $150.
SpaceX stock remained under pressure on Monday even as Cathie Wood’s ARK Invest increased its exposure to the company through a series of purchases across several exchange-traded funds.
The latest transactions occurred during a period of heightened volatility following SpaceX’s Nasdaq debut, when shares declined more than 16% in the session.
The purchases totalled more than $32 million and expanded ARK Invest’s holdings in the company at a time when investors were assessing the impact of the recent initial public offering, a newly announced bond sale, and changing expectations surrounding future revenue growth.
According to the latest fund disclosures, ARK Invest acquired 210,121 shares of SpaceX for approximately $32.5 million. The purchases were spread across four ARK-managed funds, making the company one of the largest holdings within several of the firm’s portfolios.
SpaceX Stock Becomes a Larger ARK Holding
The largest purchase was made through the ARK Innovation ETF, which added 131,837 shares. The ARK Autonomous Technology & Robotics ETF purchased 43,486 shares, while the ARK Next Generation Internet ETF and ARK Space Exploration & Innovation ETF acquired 21,506 and 13,292 shares, respectively.
Source: CryptoRednirav
Following the transactions, ARK Innovation ETF held approximately 1.63 million SpaceX shares valued at nearly $301 million. The position represented a significant allocation within the fund and followed a much larger purchase made during the company’s public market debut.
Fund disclosures showed that SpaceX became the sixth-largest holding in the ARK Innovation ETF, accounting for roughly 4.46% of portfolio weight.
The company also ranked as the largest holding in ARK Space Exploration & Innovation ETF, the fourth-largest holding in ARK Autonomous Technology & Robotics ETF, and the tenth-largest position in ARK Next Generation Internet ETF.
The purchases were made as investors continued to evaluate the stock’s performance after one of the largest public listings in recent years.
Bond Offering Announced Following Public Listing
The buying activity coincided with SpaceX’s announcement of its first bond sale since becoming a publicly traded company. The company stated that proceeds from the offering would primarily be used to repay outstanding borrowings under its bridge loan facility.
SpaceX also indicated that funds may be allocated toward related expenses and general corporate purposes. The company did not disclose the size of the bond offering.
The bond sale announcement arrived shortly after SpaceX completed its Nasdaq debut with a reported valuation of approximately $1.77 trillion. That valuation placed the company among the highest-valued initial public offerings on record.
Separate statements from company leadership and investors continued to draw attention to long-term revenue expectations. Elon Musk indicated a target of reaching $1 trillion in annual revenue by 2030. Cathie Wood previously stated that SpaceX could reach a valuation of $2.5 trillion by the end of the decade.
Trading Activity Slows as Shares Retreat
While institutional investors increased positions, market activity showed a decline in share price and trading momentum.
SpaceX stock closed Monday at $154.60, representing a decline of 16.43% during the session. Shares traded as high as $176.75 before falling to an intraday low near $154.
Source: Google Finance
Trading volume reached approximately 165 million shares, below the average daily volume of more than 268 million shares. The stock later slipped another 1% in overnight trading, reaching roughly $152.93.
The decline followed a neutral rating issued by KeyBanc and occurred despite reports of progress in discussions related to U.S.-Iran relations.
Market participants also tracked activity in derivatives markets linked to the stock. Hyperliquid’s HIP-3 perpetual listing for SPCX generated approximately $1.4 billion in volume on its first trading day. Daily volume later reached $1.6 billion on June 16 before declining to about $43.3 million by June 21.
Starlink and AI Operations Remain Revenue Drivers
Analysts at KeyBanc highlighted Starlink as a major contributor to SpaceX’s revenue. According to the firm, Starlink generated 61% of the company’s reported $18.7 billion in revenue during 2025.
The analysts stated that continued growth in connectivity services could help support enterprise value while allowing investors to evaluate the company’s other business segments separately.
KeyBanc also identified artificial intelligence operations as another area contributing to future revenue projections. The firm referenced a reported $1.25 billion agreement involving Anthropic and a separate arrangement with Google valued at approximately $920 million per month.
According to the agreements made, it was expected that AI-driven revenues could grow up to $50.6 billion by 2027.
Starlink and AI-related business operations were noted as reasons for the continued institutional interest in the company’s stock in spite of its poor performance recently.
Levels to Look out for in the Stock
Technical indicators pointed out several levels of the stock, which were observed by traders due to recent fall.
The psychological support level of SpaceX stock was around $150, which is also the same level where the shares started trading on Nasdaq after the IPO. Any fall below this level would take the focus back to the IPO price of $135.
However, the RSI also dropped down to 20, showing oversold conditions. There was also tracking of the ADX, suggesting that the ongoing bearish trend is still valid.
Source: Trading View
If there is an increase in the buying volume, then analysts see a level of resistance at 23.6% Fibonacci retracement around $167. Further, the level of resistance can be seen at 61.8% Fibonacci retracement around $196, while moving above $200 requires further market recovery.
