TLDR
- ARK Invest bought 205,031 SpaceX shares worth $27.5 million on August 21, 2026
- ARK sold 156,110 Palantir shares worth $27.2 million on the same day
- Palantir has rallied roughly 43% since its August 3 earnings report
- Wall Street sees 66.9% upside for SpaceX versus about 10% for Palantir
- SpaceX has secured over $8 billion in Golden Dome military contracts
Cathie Wood’s ARK Invest made a direct swap on Friday, August 21, selling around $27.2 million of Palantir Technologies shares and putting roughly the same amount into SpaceX.
ARK bought 205,031 SpaceX shares across four of its ETFs. The largest chunk came through the ARK Innovation ETF. The total purchase came to about $27.5 million.
Space Exploration Technologies Corp., SPCX
On the selling side, ARK offloaded 156,110 Palantir shares for around $27.2 million. This continues a pattern of trimming the position, following a $7.8 million sale of Palantir shares earlier in August.
Palantir’s Big Rally
Palantir closed at $125.65 before its earnings report on August 3. Since then, the stock has climbed to around $179.94, a gain of roughly 43%.
The company reported Q2 revenue growth of 93%. Operating cash flow reached $1.22 billion. U.S. commercial revenue jumped 149% to $764 million, driven by strong demand for its AI products.
Palantir has also benefited from government contracts, including work with the Pentagon on AI programs.
Wall Street currently sees about 10% upside remaining in Palantir from current levels. That limited runway may be part of why ARK is locking in gains.
SpaceX Faces Share Unlocks
The SpaceX purchase came one day after about 319 million shares became eligible for trading in the company’s second post-IPO share unlock. That briefly pushed the stock below its $135 IPO price.
SpaceX recovered and closed Friday at $136.97, just above the IPO price.
Earlier in August, around 912 million shares unlocked on August 6. Combined, more than 1.2 billion SpaceX shares have become eligible for trading this month. More unlocks are expected in October.
Wall Street sees 66.9% upside for SpaceX from current levels, making it a more attractive growth play than Palantir at this point according to analyst targets.
SpaceX has secured more than $8 billion in Golden Dome contracts for military satellites and launches, adding to its defense business.
There were also reports that SpaceX was interested in Grain Management’s $6 billion spectrum portfolio. Elon Musk later said that report was “not true.”
ARK also made other moves on the same day, buying 69,979 shares of BWX Technologies and selling 26,616 shares of Roblox, 4,884 shares of Shopify, and 10,033 shares of 10X Genomics.
The ARK trades show the fund rotating out of a stock that has already made big gains and into one where analysts see more room to run.
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