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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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
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