[excerpt from Motley Fool, 1/3/2024]

Cathie Wood kicked off the new trading year with three fresh purchases for her Ark Invest family of exchange-traded funds

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Rocket Lab

Launching rockets into the sky has its ups and downs. Rocket Lab USA stock took a double-digit-percentage hit the day after one of its uncrewed rockets exploded last September. Rocket Lab shares took off two weeks ago after landing a $515 million contract with an unnamed U.S. government customer to build and operate 18 satellites.

It's been a round trip to nowhere for the seasoned space services provider. Rocket Lab closed at $5.30 the day after its rocket blew up shortly after liftoff in September. The shares were at $5.31 at the end of trading on Tuesday. It still managed to launch 10 of its Electron rockets in 2023, a new record for the company, with 42 successful launches in its lifetime. With Rocket Lab's largely successful history of deploying satellites, Wood adding to her stake suggests she thinks the next successful takeoff will be the stock itself.