What's Going On With Rocket Lab Stock Wednesday?
benzinga_article·AMD or RKLB: Cathie Wood Sells $3.4M of One Stock, Buys $31.6M of the Other
Tip Ranks·- Cathie Wood's ARK Invest purchased 504,799 shares of Rocket Lab valued at approximately $31.6 million while selling 7,450 shares of AMD worth about $3.4 million. - The transactions follow Rocket Lab reporting record second-quarter revenue of $234.1 million alongside a wider-than-expected loss of $0.08 per share. - Wall Street maintains a positive outlook on Rocket Lab with a Strong Buy consensus and an average price target of $108.88 per share.Cathie Wood Buys the Dip in Rocket Lab Stock, Adds $32M in Shares
Tip Ranks·- ARK Invest purchased 705,102 shares of Rocket Lab USA across two sessions, investing roughly $44.4 million amid a recent stock decline. - The acquisition occurs while Rocket Lab faces headwinds, including a NASA contract loss to Blue Origin and testing milestones for its Neutron rocket. - Despite recent setbacks, Rocket Lab boasts a record $2.36 billion backlog and strong Wall Street backing, signaling long-term growth potential.Cathie Wood Keeps Selling AMD. But She's Buying Even More Rocket Lab
Tip Ranks·- On September 1, Cathie Wood's ARK Invest sold 7,450 shares of Advanced Micro Devices worth approximately $3.4 million while retaining a roughly $160 million exposure. - During the same period, ARK aggressively accumulated over 700,000 shares of Rocket Lab across two trading days, valued at approximately $44.5 million in total. - Wall Street maintains a Strong Buy consensus rating for both companies, with average price targets suggesting significant potential upside over the coming months.