Cathie Wood Accelerates SpaceX Stock Buying Spree As Tesla-SpaceX Merger Odds Hit 90%

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Cathie Wood's ARK Invest added to its SpaceX holdings on Wednesday, July 22, when SPCX dropped 6.70% to close at $115.26. The new acquisitions came as Wood defended ARK's choice of buying Elon Musk-backed SpaceX shares.

Cathie Wood Ramps Up SpaceX Stock Purchase

Based on trade disclosure, ARKK purchased 76,261 shares of SpaceX stock. The purchase was worth about $8.79 million at Wednesday's closing price. ARKQ purchased 24,884 shares for about $2.87 million. ARKW bought 10,072 shares valued at almost $1.16 million. Another 10,167 shares worth approximately $1.17 million were purchased by ARKX.

Altogether, ARK Invest bought a total of 121,384 SPCX shares that cost an estimated $13.99 million, based on the company's stock price at the time of its purchase.

The most recent investment comes after ARK recently chose to invest approximately $20 million in SpaceX earlier this week. In an interview with Mornings with Maria, Cathie Wood praised the stock in spite of the recent weakness and a looming $116 billion share unlock.

"[Down] from its peak, it is," Wood agreed. However, she elucidated: "but of course not from the IPO price. We think this could become the most important company in history, and I mean in global history."

Cathie Wood added: "We're talking about not only really exploring a new world -- the universe -- in terms of its launch capabilities and helping others to do so as well, but also a global communications network. Really, think telecom, that's been a very local business. In fact, the way to break into countries historically was to buy the [telecommunications companies], no longer."

Her comments cement a bullish narrative ahead of SpaceX's first-ever public earnings call on August 4, 2026.

Tesla-SpaceX Merger Hopes Continue to Grow

After Tesla's second-quarter earnings call, Deepwater Management's Gene Munster also stoked hopes of Tesla and SpaceX announcing a merger. While Cathie Wood has supported both Tesla and SpaceX in the recent past, she is yet to comment on the merger speculations.

Meanwhile, Munster wrote in a post on X: "Going into the call, I thought there was an 80% chance the two companies come together in the next few years. I'm raising that to 90%."

Munster said he was surprised the merger question was "even entertained" during the earnings call.

Responding to the question, Elon Musk said, "as you can tell from all the many collaborations on so many fronts with SpaceX, there's more and more overlap, especially with Terafab."

However, he kept the answer open ended. Musk concluded, "Obviously, we can't talk about combining companies and that kind of thing on an earnings call. It's got to be done with the appropriate process."