ARK Invest Purchases Over 705k Shares of Rocket Lab Amid Market Pullback
Cathie Wood's ARK Invest has acquired 705,102 shares of Rocket Lab (RKLB) during a period when the stock was experiencing a monthly pullback. This move comes as Rocket Lab trades at $63.57 per share and faces competition from SpaceX, which is valued over fifty times higher than Rocket Lab's current market cap of approximately $38 billion. Rocket Lab aims to compete more directly with SpaceX through its Neutron rocket, expected to be ready for launch in Q4 2026. The company has also expanded into the space systems sector and recently acquired several companies including Mynaric, Motiv, and Iridium Communications, which could significantly enhance Rocket Lab's capabilities. Investors looking for exposure to SpaceX have turned towards vehicles like SPCX, with gains of 19% in the last month. ARK Invest’s purchase suggests a strategic move into what it considers core space-economy holdings despite trimming other positions.
