UAL - Cathie Wood's Bullish Stance on Flying Cars: Ark Buys $3.9M Worth of Archer Aviation Shares | Benzinga
On Monday, Cathie Wood-led Ark Invest made a significant move by continuing its buying spree of Archer Aviation Inc (NASDAQ:ACHR) shares.
The investment firm purchased shares worth nearly $3.9 million, emphasizing its bullish stance on the flying car company.
The Archer Aviation Trade: In total, Ark purchased nearly 604,000 shares of Archer Aviation. The transaction was valued at almost $3.9 million, based on the stock’s closing price of $6.39 on Monday. The purchases were made through ARK Innovation ETF (NYSE:ARKK), ARK Autonomous Technology & Robotics ETF (BATS:ARKQ), and ARK Space Exploration & Innovation ETF (BATS:ARKX).
Ark Invest’s recent acquisitions of Archer Aviation shares come on the heels of the eVTOL aircraft maker’s significant milestones. The company recently secured a $215 million equity investment from industry leaders like Boeing Co (NYSE:BA), Stellantis ...