Cathie Wood Buys Another $54M In SpaceX, NVIDIA, Circle Stocks Amid Earnings Debacle
On Aug. 5, Cathie Wood’s ARK Invest bought over $54.6 million of Space Exploration Technologies Corp. (NASDAQ: SPX), Nvidia Corp. (NASDAQ: NVDA), and Circle Internet Group Inc. (NYSE: CRCL) in a variety of exchange-traded funds. The acquisition coincided with SpaceX’s latest quarterly loss and a mixed financial performance by Circle.
Cathie Wood Ramps Up SpaceX, NVIDIA, Circle Stock Purchase
Through ARKK, ARKQ, ARKW, ARKF, and ARKX, the investment firm bought 181,830 shares of SpaceX and 80,415 shares of Nvidia, along with 273,343 shares of Circle.
Cathie Wood’s single biggest acquisition was for the SpaceX stock. The transaction, valued at about $19.69 million at the most recent closing price of $108.27, would have taken place in June. The stock closed today 13.61% down.
With ARK’s second-largest contribution, Circle, the platform helped them secure a place in the top-five. It purchased 273,343 shares, worth about $17.30 million at the stock’s last price of $63.28. The shares of Circle stock ended nearly flat, rising 0.05% on the day.
Nvidia was third in terms of overall buying activity. Based on the closing price of $219.22, ARK bought $17.63 million in stock, or 80,415 shares of the chipmaker. Nvidia shares closed up 3.43%, from the opening price.
The Q2 Earnings Saga Continues
Cathie Wood’s buy comes amid the second quarter earnings hype. On Tuesday, SpaceX announced second-quarter revenue of $7.8 billion, which is a significant bump over last year’s $4.1 billion. Despite this smaller net loss of $541 million, the company’s losses were still much less than what analysts had expected.
Circle’s quarterly revenue of $701 million was slightly below Wall Street estimates. But, it was more profitable than expected. The stablecoin issuer reported earnings per share of $0.18 and net income of $48 million, both beat the consensus estimates.
Nvidia is also being closely tracked ahead of its second-quarter earnings for fiscal 2027 on Aug. 26. The AI chip leader is currently projected to beat the $2.08-per-share earnings mark the quarter with revenue of $91.71 billion to $91.91 billion. This consensus estimate indicates that demand for AI infrastructure is likely to stay robust.
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