Cathie Wood: SpaceX ‘could be most important’ after 48% drop
Ark Invest CEO Cathie Wood declared SpaceX ‘could become the most important company in history’ as shares traded about 48% below their 52-week high and roughly 13% under the IPO price.
In a July 22 interview, Ark Invest CEO Cathie Wood argued SpaceX could become “the most important company in history” while the stock traded well below earlier levels. Space Exploration Technologies Corp., ticker SPCX, closed at $116.95 on July 22, about 48.17% below its 52-week high of $225.64 and 13.37% below its $135 IPO price.
Ark Invest increased its exposure during the price decline. The firm purchased about $20.5 million of SpaceX shares during the recent selloff, bringing its post-IPO additional purchases to roughly $80 million after initially building a position of nearly 3.3 million shares across three exchange-traded funds.
SpaceX completed its IPO at $135 per share, selling nearly 639 million shares after underwriters exercised their option and generating about $86.25 billion in gross proceeds, according to the company’s SEC filing. Restrictions on roughly 911.5 million insider shares are scheduled to begin expiring on Aug. 6, two days after the company’s first quarterly earnings report. Some additional shares may become eligible for sale under conditional provisions.
Wood identified Starlink, SpaceX’s satellite broadband network, as a source of global reach. She noted satellite broadband can bypass the traditional country-by-country market entries used by telecom companies. In January the Federal Communications Commission authorized an additional 7,500 second-generation Starlink satellites, increasing the approved constellation to 15,000. SpaceX had nearly 10,800 Starlink satellites in orbit as of July 2026.
Wood highlighted plans for orbital data centers and use of on-Earth data centers. She said orbital data centers could reduce computing costs and that SpaceX is renting terrestrial data center capacity to AI companies and cloud providers, including Anthropic and Google. In the interview she added, “We think this could become the most important company in history, and I mean in global history.”
The company’s first quarterly earnings report and the start of the large insider-share expirations in early August are scheduled close together on the calendar and will be the next major events for investors.
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