On Tuesday, Cathie Wood-led Ark Invest made notable trades involving Amazon.com Inc., Pony AI Inc., and Archer Aviation Inc.. These trades reflect Ark’s strategic positioning in key sectors, including e-commerce, autonomous driving, and aviation technology.
The Amazon Trade
Ark Invest’s ARK Space Exploration & Innovation ETF fund acquired 6,486 shares of the Jeff Bezos-founded e-commerce giant, valued at approximately $1.44 million based on the closing price of $221.47.
Amazon recently unveiled its second-quarter earnings report, which showcased a “double beat” and ongoing advancements in artificial intelligence across its operations. The e-commerce giant’s robust performance continues to attract investor interest, reinforcing its position as a leader in the tech sector.
The Pony AI Trade
The ARK Autonomous Technology & Robotics ETF fund made a significant purchase of 898,930 shares of PonyAI, with a total value of approximately $12.9 million, based on the closing price of $14.36.
This acquisition comes amid Pony AI’s announcement of a 75.9% year-over-year increase in sales, driven by the expansion of its Robotaxi services. The company’s growth trajectory and advancements in autonomous driving technology have positioned it as a key player in the industry.
The Archer Aviation Trade
Ark Invest’s ARK Innovation ETF, ARKQ, and ARKX funds collectively purchased a total of 330,122 shares of the eVTOL company, valued at approximately $3.4 million, based on the closing price of $10.25.
Despite a disappointing second-quarter report, Archer Aviation’s shares gained traction, with analysts noting potential revenue streams on the horizon. This investment underscores Ark’s confidence in the company’s future prospects in the aviation sector.
Other Key Trades:
eToro Group Ltd : Ark Invest’s ARKF fund bought 58,756 shares.
Natera Inc.: Ark Invest’s ARKG fund sold 43,783 shares.
Guardant Health Inc.: Ark Invest’s ARKG fund sold 101,543 shares and ARKK sold 5,766 shares.
Kratos Defense and Security Solutions Inc.: Ark Invest’s ARKQ and ARKX funds sold a combined 282,737 shares.
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