STOCKS | Cathie Wood Buys Over 1 Million Rocket Lab Shares in the Past Month

Cathie Wood, head of Ark Investment Management, has often added to technology holdings when their share prices fall sharply. According to Sina Finance, she chose to buy Rocket Lab on the dip, and Ark funds bought a combined 705,102 Rocket Lab shares from August 31 to September 1. According to Sina Finance, Wood increased her holdings by more than 1 million Rocket Lab shares over the past month. Based on the latest closing price of $63.81, the position was valued at about $44.5 million. Rocket Lab shares have fallen sharply from their record high. The stock closed at $150.23 on May 27, then dropped about 58% from that peak and was down about 9% year to date. Morningstar data showed that Ark Innovation ETF had a five-year annualized return of -7.60% as of September 2, compared with 11.06% for the S&P 500. A Morningstar report by analyst Amy Arnott said Ark Innovation ETF erased nearly $5 billion of investor wealth over the past decade through 2025, ranking fourth among all mutual funds and ETFs.