ACHR - Cathie Wood Buys Archer Aviation Stock

Posted: Dec 13, 2024

  • Cathie Wood's ARK Invest bought more shares in Archer Aviation, a drone company
  • Archer Aviation stock jumped nearly 8%, nearly doubling its value over the past month
  • ARK Innovation ETF bought 4.7 million shares of Archer Aviation
  • ARK Invest funds collectively acquired more than five million Archer Aviation shares
  • Archer Aviation announced a partnership with Anduril Industries to develop a hybrid aircraft
  • ARK Innovation ETF and ARK Autonomous Technology & Robotics ETF trimmed their Tesla holdings
  • Tesla stock has rallied 71% this year
  • ARK Innovation ETF sold about 50,000 Tesla shares on Wednesday
  • The fund has gained 21% this year, its best-performing year since 2020




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