Rocket Lab USA Inc.ARK bought shares after earnings, and revenue/backlog growth are positive.
Cathie Wood's ARK Invest purchased 292,873 shares of Rocket Lab worth about $23.4 million on Tuesday, doubling down on the SpaceX competitor after its post-earnings weakness. The purchase came after Rocket Lab reported second-quarter revenue of $234 million, up 62% year over year and a company record, but a wider-than-expected loss of $0.08 per share versus the $0.07 analysts expected. CEO Peter Beck warned that the window for a first Neutron launch by year-end is narrowing, though the company says production of the first-stage tank remains aligned with delivering the vehicle to the launchpad in the fourth quarter. Rocket Lab's backlog surged 137% to a record $2.36 billion, with more than 90 launches contracted, and the company expects third-quarter revenue of $250 million to $265 million, which would mark another quarterly record. Wood simultaneously sold about $20 million of Deere stock, highlighting ARK's continued preference for space and other disruptive-growth themes.
Rocket Lab USA Inc.ARK bought shares after earnings, and revenue/backlog growth are positive.
Space Exploration Technologies Corp. Class A Common Stock
Deere & CompanyARK's trades are the focus, but impact on the firm itself is unclear.