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Ark Invest purchased $32 million worth of SpaceX shares on Monday, the same session that saw SPCX close down 16.43% at $154.60.
The single-day decline erased most of the gains the stock had accumulated since its June 12 debut, leaving Ark as one of the more conspicuous buyers in a falling market.
Buying Into the Worst Day Since Debut The timing is the story. Ark committed $32 million to SpaceX exposure on the sharpest down day the stock had seen since it began trading less than two weeks prior.
That is a buy-the-dip move, and it carries a clear implication: Ark is betting Monday's session was an overreaction, not a repricing.
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