Cathie Wood’s ARK Invest offloads nearly $13 million in ACHR stock amid broader sector shifts in eVTOL development.
ARK Invest, led by Cathie Wood, sold nearly $13 million worth of Archer Aviation (ACHR) shares on Monday. The move follows recent adjustments in the firm’s portfolio, including increased exposure to defense and air taxi stocks earlier this month.
Vertical Aerospace, a competitor in the electric vertical takeoff and landing (eVTOL) space, announced Tuesday it completed its first piloted flight of a prototype aircraft. The sector has seen heightened activity as companies race to develop commercial air mobility solutions.
No immediate market reaction was reported following the sale or Vertical Aerospace’s announcement.