Cathie Wood Cashes Out On Rocket Lab's 28% Surge in $9M Share Sale But Expands Bet On Flying Cars

On Wednesday, the Cathie Wood-led Ark Invest made substantial trades in Rocket Lab USA Inc (NASDAQ:RKLB), Amazon.com Inc (NASDAQ:AMZN), and Archer Aviation (NYSE:ACHR).

The Rocket Lab USA Inc Trade

Ark Invest sold 479,628 shares in Rocket Lab USA. The trades were made through ARK Autonomous Technology & Robotics ETF (BATS:ARKQ) and ARK Space Exploration & Innovation ETF (BATS:ARKX) and were valued at almost $9 million. On Wednesday, Rocket Lab shares shot up over 28% to $18.83.

This sale came after Rocket Lab reported better-than-expected financial results for the third quarter and announced a multi-launch agreement with a confidential customer. The company was also awarded a defense contract worth up to $8 million. Rocket Lab’s shares surged after it reported revenue of $104.81 million, beating the consensus estimate of $102.28 million. The company also reported a loss of 10 cents per share, which was less than the expected loss of 11 cents per share. Rocket Lab expects fourth-quarter revenue in the range of $125 million to $135 million and plans to end the ...

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