Ark Invest Buys Millions of SpaceX Shares as IPO Surges 20%
SPCX•Ark Invest acquired millions of SpaceX shares as the IPO surged nearly 20% in its first session, with underwriters exercising the full greenshoe option to total $85.7 billion proceeds. Evercore ISI strategist Julian Emanuel forecasts the S&P 500 could climb to 9,000 on FOMO fueled by SpaceX’s blockbuster debut.
1. ARK Invest Acquires SpaceX Shares
Ark Invest purchased millions of shares in SpaceX’s market debut, underscoring Cathie Wood’s continued confidence in Elon Musk’s venture and marking a significant institutional bet on the newly public company.
2. IPO Debut Spurs 20% Rally And $85.7 B Proceeds
SpaceX’s shares jumped nearly 20% on their first trading day, prompting underwriters to exercise the full greenshoe option and lift total IPO proceeds to $85.7 billion, the largest ever for a technology offering.
3. Evercore ISI Bull-Case Forecast
Evercore ISI strategist Julian Emanuel projects that FOMO from SpaceX’s blockbuster debut could drive the S&P 500 to 9,000, compared to a base-case target of 7,750, suggesting the landmark IPO may catalyze broader market gains.
