ARK Investment Management sold shares in Teradyne, Twist Bioscience, Iridium Communications, and Robinhood Markets, among other companies.
- The largest reported sale was an over-$76 million sale of shares of semiconductor manufacturer Teradyne Inc.
- Other notable divestments included Twist Bioscience Corp., Iridium Communications Inc. and Robinhood Markets Inc.
- The massive offloading comes ahead of the SpaceX IPO, which is set to debut on U.S. markets on Friday.
Cathie Wood's ARK Investment Management offloaded shares in 20 companies on Thursday, selling roughly $222.87 million in its exchange-traded funds, a notable move on the eve of the SpaceX IPO, poised to be the biggest public debut in history.
What Did ARK Offload On Thursday?
The largest transaction was Teradyne (TER), with ARK selling $76.6 million in shares across its flagship ARK Innovation ETF (ARKK), the Autonomous Technology & Robotics ETF (ARKQ), and the ARK Space & Defense Innovation ETF (ARKX).
Other notable divestments included Twist Bioscience (TWST), Iridium Communications (IRDM), and Robinhood Markets (HOOD), totaling $64.2 million. Wood's funds also trimmed positions in Roku, L3Harris Technologies, Baidu, Archer Aviation, BWX Technologies, and Cerus, among others.
What's The SpaceX Connection?
The selloff lands at a suggestive moment. SpaceX's IPO, priced at $135 per share at a whopping $1.77 trillion valuation, is one of the most anticipated events on Wall Street in years. And Wood is one of Elon Musk's most vocal champions.
Her funds already hold significant exposure to SpaceX: as of May 2026, the company accounted for approximately 11.38% of ARK Venture Fund's net assets, its largest position, ahead of OpenAI and Anthropic.
ARK has not indicated that Thursday's sales were intended to fund additional SpaceX purchases, but speculation is circulating.
"Cathie Wood could be a notable buyer of SPCX following its IPO tomorrow, given the stock's fit with ARKK's focus on disruptive innovation and space-related themes," Sam Badawi, host of The Solid Report on WOLF Financial, wrote on X.
What Retail Traders Feel About SpaceX
On Stocktwits, retail sentiment around the SPCX ticker has held in 'extremely bullish' territory over the past week, with chatter surging 663% in the past 24 hours and a staggering 9,194% over the past month.
Two analysts already hold 'Buy' ratings on SPCX, per Koyfin, with a consensus price target implying the stock is trading at a 3% discount to fair value.
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