Archer Aviation Inc (ACHR)

[rwwest]

On Tuesday, Cathie Wood-led Ark Invest continued to purchase shares of Archer Aviation Inc , a flying taxi company. This move comes a day after Ark Invest’s significant purchase of Archer shares.

The Archer Aviation Trade: Ark Invest acquired a substantial number of shares of Archer Aviation for the second consecutive day. The trade, made through the ARK Innovation, was valued at $16 million, based on Archer’s closing price of $5.94.

The firm’s interest in Archer has been evident, especially after the eVTOL aircraft maker recently secured a $215 million equity investment from industry giants like Boeing Co, Stellantis N.V., and United Airlines. This investment boosted Archer’s total funding to over $1.1 billion.

Furthermore, Archer’s Midnight eVTOL aircraft received FAA approval, and the company announced a collaboration with Boeing and Wisk Aero for autonomous flight technology. Adam Goldstein, CEO of Archer, expressed optimism about the U.S. government’s commitment to eVTOL aircraft and the collaboration with industry leaders.......
https://markets.businessinsider.com/news/etf/cathie-wood-s-ark-invest-buys-16m-worth-of-shares-of-flying-taxi-company-archer-aviation-%E2%80%94-sells-shopify-stock-worth-millions-1032561415