저자: 미상 · 외국인
요약 보기
캐시 우드(ARK)가 팔란티어 주식을 대량 매도하고, 그 자금을 로켓랩(RKLB)과 블록(XYZ)에 재배분했다는 분석. 팔란티어 2분기 매출 19.4억 달러(+92.8%), 주가수익비율 150 이상으로 고평가 부담을 지적. 로켓랩은 2분기 매출 2.341억 달러(+62%)와 뉴트론 로켓 개발을, 블록은 비용 절감과 현금흐름 개선, 자사주 매입을 근거로 저평가 매력을 강조. 결론적으로 '기업은 사랑하되 주가는 경계하라'는 메시지.
다듬은 글
Katie Wood just did something that caused a real shock on Wall Street. While retail investors and large funds are trying to get Palantir Technologies shares at peak values, ARK Invest has quietly hit the sell button, shedding tens of millions of dollars in Pltr shares in just one week. But this is not a waste of cash.
If you look closely at ARK's daily trading reports, you will see that Katie Wood is actively reallocating capital into another exponential growth sector. It is accumulating significant stakes in two promising projects: aerospace innovator Rocket Lab and fintech giant Block. Why is one of the tech sector's biggest optimists getting rid of the main symbol of corporate artificial intelligence?
And more importantly, does its new rotation signal where the next 5x profit opportunity really lies? Let's analyze the data. The Great Multiplayer Dilemma: Why ARK is Changing Strategy. To understand Katie Wood's rotation, you need to look beyond the headlines and study the mechanics of valuation. Wall Street is based on risk-adjusted return profiles.
When stocks are soaring and their valuations are reaching historic highs, fund managers face structural risk, because even ideality is already priced in. Over the past 2 years, Palantir has transformed from a controversial defense contractor to an undisputed foundation for implementing corporate AI.
Its artificial intelligence platform, AIP, has received unprecedented recognition among institutional clients. But this colossal success sparked parabolic growth, pushing Palantir's market capitalization to a staggering hundreds of billions of dollars. For ARK Invest, a sale is rarely an indication of distrust in the company's technology in the long term.
This is a mathematical discipline. Wood's strategy calls for reducing positions in leaders when their growth potential falls below a target annual return of 15-25%, directing that capital into undervalued assets that are in the early stages of their multi-year supercycles. Stock number one: Palantir Technologies (PLTR )—the price of excellence.
Make no mistake, Palantir's business is performing exceptionally well . In its Q2 2026 report, Palantir held a real master class. Revenue rose 92.8% year-over-year to $1.94 billion , significantly exceeding analysts' expectations. GAAP diluted earnings per share were 41 cents, beating Wall Street estimates, while GAAP operating income reached $912 million, reflecting an impressive operating margin of 47.1 %.
The engine of explosive growth remains commercial revenue in the US, which jumped 149% year-on-year to $764 million . Companies are no longer experimenting with generative AI “ toys.” They are implementing Palantir's ontology directly into their real-time workflows. Revenue from US government contracts also grew aggressively to $809 million, a 90% increase, proving the definitive shift of defense procurement to program-defined warfare.
Palantir also posted a huge quarterly free cash flow of $1.2 billion , prompting management to raise its full-year 2026 revenue forecast to over $8.15 billion . So why are they selling? Because Palantir shares are now trading around $180, and the market capitalization has approached $440 billion. This means that the price-to- earnings ratio of the stock exceeds 150, and the enterprise value-to- sales multiplier is over 27 times.
Even if Palantir operates without a single mistake, its stock price actually already takes into account rapid growth until the end of the 2020s. For ARK, holding Palantir shares at this level carries an asymmetric downside risk if corporate technology spending encounters any macroeconomic headwinds.
Katie Wood realized that the easy growth in multipliers had already been exhausted, which prompted her to lock in profits and fund new bets. Promotion number two, Rocket Lab, RKLB, commercial supercycle in space. Where are these Palantir cash flows going ? Straight to the stars with Rocket Lab. Over the course of several trading sessions, ARK invested tens of millions of dollars in RKLB, buying back hundreds of thousands of shares for several of its ETFs.
While retail traders were distracted by short-term contract delays, Rocket Lab reported record second-quarter 2026 revenue of $234.1 million , an outstanding 62% year-over-year increase . What the market consistently fails to understand about Rocket Lab is that it is not just a space launch company.
More than 70% of its total revenue comes from its high-value space systems division, which supplies solar arrays, flywheels, separation systems, and satellite platforms to commercial operators and the Department of Defense . The battle-tested Electron rocket has flown over 75 successful missions, cementing Rocket Lab's status as the only reliable small-class launch vehicle in the Western world alongside SpaceX.
Meanwhile, its medium-range, fully reusable Neutron rocket is entering the final qualification and fire-testing phase . Neutron is directly targeting the lucrative mega-constellation deployment market, which could allow Rocket Lab to secure billions of dollars in contracts as the world experiences a global shortage of launch vehicles.
While Palantir trades at 27 times sales, Rocket Lab trades at a much lower multiple, offering tremendous operating leverage as its order book and launch pace grow. Katie Wood works to advance the industrialization of low Earth orbit . Stock number three, Block, is an undervalued fintech. The second huge direction for ARK rotation is Jack Dorsey's Block, formerly known as Square.
ARK has embarked on an aggressive buying campaign, adding over 450,000 shares in a single deal valued at over $38 million. Block is a classic example of a company transforming into a reliable tool for capital accumulation. Over the past two years, Block has restructured operations, cut costs, and implemented strict headcount restrictions.
The results are already reflected in net profit. Block has transformed from a loss-making growth story into a highly profitable source of cash. Gross profit for Square's merchant ecosystem and consumer network Cash App continues to grow at double-digit rates, while adjusted operating income and Rule of 40 metrics are reaching record levels for the company.
Cash App is evolving from a P2P transfer utility into a major banking hub for tens of millions of users, driving monetization through card fees, high-yield savings, and automated microinvesting. At the same time, Square's merchant ecosystem is penetrating deeper into the mid-market and enterprise segments, solidifying its position in global cross-border payments.
Block has billions in cash and short-term assets on its balance sheet, and management has ramped up share buybacks to remove them from circulation while valuations remain low. Katie Wood sees a company that dominates the next-generation financial operating system , but it trades at a reasonable forward earnings multiple, leaving room for rapid multiple growth.
What does this mean for your portfolio. When you take a step back and look at the big picture, Katie Wood's asset rotation reveals a fundamental rule of successful long-term investing. Fall in love with the business, not the stock price. Palantir is a powerhouse in the corporate AI space, but when the stock soars hundreds of percent and commands an elite premium, disciplined managers lock in profits.
Katie Wood does not abandon innovation, she reallocates capital into more promising asymmetric opportunities. Rocket Lab gives it access to critical logistics in the space industry at a tipping point, and Block provides participation in digital finance at a very competitive price. As an investor, you don't create wealth by chasing assets after they've already gone up 400%.
You create wealth by determining where capital flows next. Palantir has proven that critical technologies win. The market's attention is now shifting towards companies building the physical and digital architecture of the future. Follow the data, be disciplined when choosing entry prices, and subscribe to never miss the next institutional portfolio analysis. See you in the next video.
Comments 0