Key HighlightsARK Invest divested 7,450 AMD shares valued at approximately $3.4 million from two separate funds on September 1Over two consecutive trading sessions, ARK accumulated more than 700,000 Rocket Lab shares totaling approximately $44.5 millionARK acquired 456,059 Block shares valued at $38.1 million during a market dipTo finance these acquisitions, ARK liquidated roughly $26 million in Palantir holdings along with positions in Tempus AI and ShopifyAnalyst consensus rates both AMD and Rocket Lab as Strong Buys, with price targets of $647 and $110.60 respectivelyOn September 1, Cathie Wood’s ARK Invest executed several significant portfolio adjustments, reducing exposure to certain technology names while deploying substantial capital into Rocket Lab and Block.Rocket Lab USA, Inc., RKLBStrategic Reductions in AMD and Palantir PositionsThe investment firm offloaded a total of 7,450 Advanced Micro Devices shares from its ARKQ and ARKX portfolios. With AMD closing at $459.61, these transactions represented approximately $3.4 million in total value.Despite this trimming, ARK maintains a significant AMD position valued at roughly $160 million across its exchange-traded funds. This represents a modest portfolio adjustment rather than a complete divestment.Following AMD’s impressive performance trajectory, ARK appears to be capturing gains through standard portfolio rebalancing practices.Additionally, the firm liquidated approximately $26 million worth of Palantir stock, alongside smaller holdings in Tempus AI and Shopify, generating capital for reinvestment elsewhere.Substantial Capital Deployment in Rocket Lab and BlockARK’s September 1 activity included purchasing over 504,000 Rocket Lab shares distributed across ARKK, ARKQ, and ARKX funds, representing approximately $31.6 million in value. This followed ARKK’s acquisition of another 200,303 shares the previous day for roughly $12.9 million. Combined, these transactions totaled more than 700,000 Rocket Lab shares.Rocket Lab’s stock price has declined over 58% from its May peak. Wood’s buying activity suggests she’s capitalizing on the downturn.Recent headwinds have weighed on the aerospace company’s valuation. NASA’s decision to award a Mars communications contract valued at up to $700 million to Jeff Bezos’ Blue Origin—bypassing Rocket Lab—disappointed investors. Additional concerns have emerged regarding insider stock sales and possible timeline extensions for the Neutron rocket initiative.Despite these challenges, Rocket Lab delivered strong Q2 results with revenue climbing 62% to a record $234 million. The company’s backlog expanded 137% to reach $2.36 billion. Management continues to target Q4 2026 for Neutron’s arrival at the launch facility.Simultaneously, ARK purchased 456,059 Block shares totaling $38.1 million as the stock declined 1.9%. This extends a sustained accumulation pattern that included approximately $21 million in purchases during early August and $15.4 million in mid-August.Block’s second-quarter results showed gross profit reaching $3.17 billion, marking a 25% increase, with Cash App contributing 31% growth. The company achieved record adjusted operating income of $864 million.Management elevated its 2026 gross profit projection to $12.51 billion and now anticipates adjusted earnings per share of $4.02, representing 70% year-over-year expansion.Wall Street analysts maintain Strong Buy recommendations on both AMD and Rocket Lab. The consensus price target for AMD stands at $647.19, indicating 41% upside potential. Rocket Lab’s average analyst target of $110.60 implies possible gains of 77% over the next twelve months.The post Cathie Wood’s ARK Invest Loads Up on Rocket Lab (RKLB) and Block While Reducing AMD (AMD) and Palantir (PLTR) appeared first on Blockonomi.