Cathie Wood's Ark Invest Buys $16M Worth Of Shares Of Flying Taxi Company Archer Aviation — Sells Shopify Stock Worth Millions
Portfolio Pulse from Benzinga Neuro
Ark Invest, led by Cathie Wood, has continued to buy shares of Archer Aviation Inc (ACHR), a flying taxi company, with a recent purchase valued at $16 million. This comes after Archer secured a $215 million equity investment from industry giants like Boeing Co, Stellantis N.V., and United Airlines. In contrast, Ark Invest sold Shopify Inc (SHOP) shares worth $10.08 million. Other trades included purchases of Recurson Pharmaceuticals (RXRX), Ginkgo Bioworks Holdings Inc (DNA), and Intellia Therapeutics Inc (NTLA), and selling of Exact Sciences Corp (EXAS) shares.
August 17, 2023 | 1:59 am
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NEGATIVE IMPACT
Ark Invest's decision to sell Exact Sciences shares may indicate a less optimistic outlook for the company.
Ark Invest's decision to sell shares of Exact Sciences may suggest a less positive outlook for the company's stock.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Ark Invest's decision to sell Shopify shares may indicate a less optimistic outlook for the company.
Despite Shopify's strong financial results and increased revenue, Ark Invest's decision to sell its shares may suggest a less positive outlook for the company's stock.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Ark Invest's continued purchase of Archer Aviation shares indicates strong confidence in the company's prospects.
Ark Invest's continued investment in Archer Aviation, especially after the company secured a significant equity investment and FAA approval for its eVTOL aircraft, indicates a positive outlook for the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Ark Invest's purchase of Ginkgo Bioworks shares suggests a positive outlook for the company.
Ark Invest's decision to buy shares of Ginkgo Bioworks indicates a positive outlook for the company's stock.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Ark Invest's purchase of Intellia Therapeutics shares suggests a positive outlook for the company.
Ark Invest's decision to buy shares of Intellia Therapeutics indicates a positive outlook for the company's stock.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Ark Invest's purchase of Recurson Pharmaceuticals shares suggests a positive outlook for the company.
Ark Invest's decision to buy shares of Recurson Pharmaceuticals indicates a positive outlook for the company's stock.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60