Cathie Wood’s Ark Invest added to positions in three stocks trading below recent highs or IPO prices on Monday.
Ark Invest increased holdings in Archer Aviation (ACHR), Space Exploration Technologies (SPCX), and Meta Platforms (META) as part of a bargain-hunting strategy. Archer and SpaceX shares trade below their IPO prices, while Meta remains 8% lower over the past year.
Archer Aviation surged nearly 20% on Monday after announcing a new autonomous attack rotorcraft, Thunder, developed with Anduril. The stock saw its highest trading volume since late last year. Meta, despite outperforming the other two, has faced pressure amid broader market declines.
The purchases reflect Ark’s focus on growth stocks perceived as undervalued despite near-term challenges. None of the three stocks are currently trading at traditional bargain valuations.