Cathie Wood’s Firm Makes $16 Million Rocket Lab Decision
Portfolio News
Planet Labs ($PL)
On Thursday, Planet Labs announced the successful launch of 20 satellites: the first demo mission for Alphabet’s ($GOOGL) Google Project Suncatcher; Tanager-2, its latest hyperspectral satellite; and 18 SuperDoves. These spacecraft were launched to orbit aboard the Transporter-18 rideshare mission with SpaceX ($SPCX) from Vandenberg Space Force Base in California.
Planet Labs has successfully made initial contact with Tanager-2, the Project Suncatcher prototype, and two SuperDoves and begun the commissioning process. The firm expects to make contact with the remaining 16 SuperDoves that will deploy on the D-Orbit ION orbital transfer vehicle on schedule.
This marks, for Planet Labs, the 40th successful launch and a total of 718 satellites built and delivered on orbit. Developed in partnership with Google, the Project Suncatcher satellite will run the first-ever test of Google’s Tensor Processing Units (home-designed chips) in space. The moonshot project is exploring the feasibility of running machine learning (ML) compute systems or data centers in-orbit.
Rocket Lab ($RKLB)
On Thursday, ARK Invest’s (of Cathie Wood fame) daily trade disclosures show that the firm purchased 233,482 shares of Rocket Lab (RKLB) worth about between $16.4 million and $16.5 million. The news is dated Friday because the trades are reported the next morning. The purchases were made across three of the firm’s funds.
This continues a pattern for ARK Invest. ARK bought a reported 705,102 shares of RKLB shares (for about $44.4 million) on August 31 and September 1, then another 359,612 shares ( for about $25.1 million) on September 22 while the stock was trading well below its highs.
Thursday’s Intentions vs Actual Trades
Intention: Sell 2 shares of RKLB at or close to the last sale of $71.20
Actual trade: Sold 2 shares of RKLB at $70.65
Intention: Sell 50 shares of ($SWBI) at or close to the last sale of $14.10 to exit the position
Actual trade: Sold 50 shares of SWBI at $14.27
Trading
After two days of heavy trade, I do not plan on trading the portfolio heavily the day before going on vacation and it has literally been years since I took an entire week off for purely recreational purposes. That said, I will close the one ($SOFI) call that the portfolio is short if it can be done inexpensively. That said, I expect to write this column next on Monday morning, October 12.
Friday’s Intention
Buy one SOFI $22 November 19 call for $0.20 (limited) or better. This will close the position.
Current Positions
Long 60 shares of ($ASPN) at $5.1083. Target price: $10. Last sale: $5.62.
Long 110 shares of ($EVLV) at $5.6939. Target price: $8.50. Last sale: $4.77.
Long 140 shares of ($OCUL) at $8.4505. Target price: $14. Last sale: $7.42.
Short one OCUL $9 December 18 call at $0.80. Last sale: $0.65.
Long 260 shares of ($ONDS) at $8.0742. Target price: $12. Last sale: $7.27.
Long 100 shares of ($PL) at $20.3367. Target price: $26. Last sale: $16.53.
Short one PL $17 November 19 call at $1.70. Last sale: $1.40.
Long 60 shares of ($PTON) at $5.0263. Target price: $9. Last sale: $5.05.
Long 5 shares of ($RKLB) at $72.818. Target price: $97. Last sale: $71.97.
Long 130 shares of ($SOFI) at $16.0485. Target price: $24. Last sale: $16.10.
Short one SOFI $22 November 19 call at $1.20. Last sale: $0.13.
Long 50 shares of ($VELO) at $10.265. Target price: $18. Last sale: $10.86.
Cash: $914.82.
Portfolio value: $9,433.87, -5.7% from inception on March 24.
At the time of publication, Guilfoyle was long ASPN, EVLV, OCUL, ONDS, PL, PTON, RKLB, SOFI and VELO.
