Cathie Wood Loads Up on Rocket Lab and Robinhood While Cutting Palantir and Tempus AI

TLDR

• Ark Invest bought over 705K shares of Rocket Lab worth about $45M, making space its biggest area of conviction last week
• Ark added 28,589 shares of Robinhood Markets worth $3.5M, reversing recent sales as the stock rebounded over 30% in the past month
• Palantir and Tempus AI were the biggest sells, at $25M and $27.7M respectively
• Robinhood Chain daily revenue jumped from below $200K to $4M in early September, prompting Deutsche Bank to raise its price target to $136
• Ark Innovation ETF has a five-year annualized return of -7.02%, compared to the S&P 500’s 11.22% over the same period

Cathie Wood’s Ark Invest made a series of trades last week, leaning into space, fintech, crypto, and biotech while trimming tech and healthcare holdings.

Ark’s Biggest Buys

Space was the firm’s top focus. Ark bought over 705,000 shares of Rocket Lab worth about $45 million. In fintech, Ark picked up 456,000 shares of Block worth about $37 million.

Rocket Lab USA, Inc., RKLB

Ark also bought 28,589 shares of Robinhood Markets worth about $3.5 million. That reversed a series of recent sales, including 25,009 shares sold on August 26 and a larger sell-off in July.

… Continue reading the full article at the original source below.