From Nasdaq: 2024-11-16 08:15:00

Cathie Wood, CEO of Ark Invest, is known for her investments in disruptive technologies like electric vehicles (EVs). Wood has been reducing her stake in Tesla and investing in Archer Aviation, a company developing electric air taxis. Wood sold over 810,000 Tesla shares in October and November.

Archer Aviation focuses on electric vertical take-off and landing (eVTOL) aircraft for urban transportation. The company secured a $500 million deal with Japan Airlines and Soracle for 100 aircraft. Archer also has collaborations with airlines like United and Southwest, as well as interests from the U.S. military.

Wood added around 2.5 million shares of Archer stock to Ark funds in late October. With Tesla stock soaring, Wood rebalanced her portfolio by investing in Archer. While Archer is speculative, its potential in the eVTOL market is promising for future growth and innovation.

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Disclaimer: The author has positions in Tesla, which is recommended by The Motley Fool. The views expressed are the author’s own and may not reflect those of Nasdaq, Inc.



Read more at Nasdaq: Cathie Wood Is Selling Tesla and Buying This Other EV Stock That’s Under $5. Should You Follow Her Lead?