Cathie Wood's Ark Invest Sells Palantir and AMD Shares to Buy Archer Aviation Stock
Ark Invest CEO Cathie Wood sold shares in Palantir Technologies (PLTR) and Advanced Micro Devices (AMD), then used the proceeds to invest $3.35 million into Archer Aviation (ACHR). The move reflects a shift within Ark's flagship Innovation ETF, which now holds Archer as its 30th-largest position at about 1.2% of the portfolio. Wood is known for actively managing her fund’s holdings and trimming positions after significant gains or when upside potential diminishes. Archer Aviation has recently partnered with Boeing to acquire several subsidiaries in eVTOL, drones, and autonomous navigation technologies — a strategic move that could enhance its market position despite recent stock volatility. While the company's shares have declined sharply this year, Ark’s investment suggests confidence in long-term growth prospects for next-gen aviation tech. The Motley Fool analysts did not recommend Archer Aviation as one of their top 10 stocks to buy at present.
Tickers: $ACHR $AMD $ARKK $PLTR
Topics: ARK Invest Cathie Wood ETFs Stock Trading