Cathie Wood's Wednesday Moves: Ark Pours $1.36 Million Into Tempus AI Shares Following Deep 6 AI Acquisition, Offloads Rocket Lab Stock

On Wednesday, Cathie Wood-led Ark Invest made significant trades involving Tempus AI Inc. TEM and Rocket Lab USA Inc. RKLB.

The Tempus AI Trade

Ark Invest’s ARK Innovation ETF ARKK acquired 29,845 shares of Tempus AI, valued at approximately $1.36 million, based on the closing price of $45.50. This purchase aligns with Ark’s ongoing strategy to bolster its position in innovative technology sectors. Tempus AI recently announced its acquisition of Deep 6 AI, a move expected to enhance its network with over 750 provider site locations and access to more than 30 million patients. This acquisition is anticipated to strengthen Tempus AI’s market presence and capabilities.

Furthermore, Tempus AI’s recent earnings report revealed a revenue miss but an earnings-per-share beat, coupled with strong future guidance. The strategic acquisition of Deep 6 AI and the positive earnings outlook underscore Tempus AI’s potential for growth, making it an attractive investment.

Wood has been loading up on Tempus AI stock in recent days. On Tuesday, Ark purchased $4.29 million worth of stock, while on Monday, amid the tech meltdown, the firm had scooped up stock worth $13.23 million.

The Rocket Lab Trade

Ark Invest also made notable moves involving Rocket Lab. The ARK Autonomous Technology & Robotics ETF ARKQ and ARK Space Exploration & Innovation ETF ARKX collectively sold 41,839 shares of Rocket Lab, valued at approximately $771,092, based on the closing price of $18.43. This sale comes amid Rocket Lab’s recent announcement of being selected by Airbus SE to supply solar panels for 100 OneWeb Low Earth Orbit satellites, a development that has positively impacted Rocket Lab’s stock price.

Additionally, Rocket Lab recently inked a non-binding term sheet to acquire a controlling stake in Mynaric AG for $75 million, with an additional earn-out tied to future revenue targets. This acquisition aims to enhance Rocket Lab’s satellite technology capabilities, further solidifying its position in the aerospace sector.

Other Key Trades:

Sold 9,961 shares of CareDx Inc (CDNA) from ARKG.
Bought 8,890 shares of CRISPR Therapeutics AG (CRSP) for ARKK and 1,781 shares for ARKG.
Bought 15,095 shares of Intellia Therapeutics Inc (NTLA) for ARKK and 3,025 shares for ARKG.
Bought 4,847 shares of AeroVironment Inc (AVAV) for ARKQ and 3,093 shares for ARKX.

Image via Shutterstock

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