Ark Invest Buys $23 Million in Tesla, SpaceX Shares as Selloff Deepens

1 articles · Updated · Barchart · Aug 1

Ark Invest disclosed purchases of about $23 million in Tesla and SpaceX shares by July 27, adding 27,864 Tesla shares worth $8.7 million and 124,543 SpaceX shares worth $14.3 million.
The buying came as both Elon Musk-linked stocks slid sharply—Tesla is down about 30% this year and SpaceX has fallen 52% from post-IPO highs—amid valuation worries and pressure on near-term results.
Tesla’s weak Q2 reinforced those concerns: adjusted EPS fell 18% year over year to $0.33, automotive gross margin ex-credits dropped to 16.3%, and $5.8 billion in capex pushed free cash flow to negative $1.1 billion.
SpaceX, which reports its first post-IPO quarterly results on Aug. 4, posted 2025 revenue of $18.7 billion and March-quarter revenue of $4.69 billion, but still logged a $1.94 billion operating loss as it funds expansion.
Ark’s stance is that investors are underpricing longer-term upside from Tesla’s AI, robotaxi and robotics push and from SpaceX’s Starlink-led connectivity business, even as both companies spend heavily before profits materialize.