Cathie Wood Sold Palantir and AMD, Then Poured $3.35 Million Into Archer Aviation. Is ARK Betting Big on Flying Taxis?
Cathie Wood just bought more shares of Archer Aviation for her company's flagship ETF.
Cathie Wood, the CEO of Ark Invest, recently disclosed significant investment activity by her firm in a set of quarterly filings. Ark Invest, known for its transparency, regularly updates its investors on all trades made by Wood and her team of analysts and managers. In this particular filing, the firm revealed it sold shares of Palantir (PLTR) and Advanced Micro Devices (AMD) while simultaneously making a substantial purchase of Archer Aviation (ACHR) stock.
The amount invested in Archer Aviation reached approximately $3.35 million, marking a noteworthy shift in the firm's portfolio. This move has sparked speculation about Ark Invest's confidence in the electric aviation sector, particularly in the context of the growing interest in flying taxis.
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