Cathie Wood Bets Big on Flying Taxis With Joby, Archer Trades—Invests in TSLA Robotaxi Rivals WeRide, Pony AI

Cathie Wood-led ARK Invest has backed Electric Vertical Takeoff and Landing (eVTOL) stocks in its latest trades with investments in flying taxi companies like Joby Aviation Inc. (NYSE:JOBY) and Archer Aviation Inc. (NYSE:ACHR). ARK Invest Buys Joby, Archer On Tuesday, the ARK Innovation ETF (BATS:ARKK) bought 1,787,367 shares of Archer Aviation. At market close on Tuesday, Archer shares fell 1.48% to $4.6500, meaning that Wood bought roughly $8.31 million worth of the company’s shares with the trade. Read Also: Cathie Wood Trims Elon Musk's SpaceX, ARK Invest Adds To Meta, Amazon And CoreWeave Positions The ARK Autonomous Technology & Robotics ETF (BATS:ARKQ) also saw investments in Archer as the firm bought 562,685 shares, in a trade totaling roughly $2.6 million. The ETF also bought 543,906 shares of Joby Aviation, which traded at $5.78 at market close on Tuesday. At its current value, the Joby trade was worth approximately $3.14 million. The ARK Space & Defense Innovation ETF (BATS:ARKX) also bought shares in both Joby Aviation and Archer Aviation, procuring 209,424 and 216,679 shares, respectively. The trades were worth approximately $1.21 million for the Joby Aviation stock purchase, while ARK invested just a little over $1 million in Archer with the trade. Robotaxi Stocks Besides eVTOL, ARK Invest also invested in Robotaxi companies and Tesla Inc.‘s (NASDAQ:TSLA) Chinese rivals WeRide Inc. (NASDAQ:WRD), Pony AI Inc. (NASDAQ:PONY) and Baidu Inc. (NASDAQ:BIDU), which backs the Robotaxi service Apollo Go. ARK Invest’s Autonomous Tech and Robotics ETF bought 172,300 shares of Pony AI, which traded at $6.13 at market close on Tuesday, making the trade worth approximately $1.05 million. ARK bought 11,484 shares of Baidu, which closed at $87.05 at market close. ARK’s Baidu trade was worth approximately $999,000. The firm also backed WeRide, purchasing 61,900 shares of the Robotaxi company, which was trading at $5.12 at market close on Tuesday. The WeRide purchase was over $316,000. Wood also purchased 529,654 shares of self-driving company Aurora Innovation Inc. (NASDAQ:AUR). Aurora shares were trading at $5.75 at market close, making the trade worth roughly $3.04 million. Read Also: Archer CEO Says Defense Could Solve Its Air Taxi Problem Check out more of Benzinga’s Future Of Mobility coverage by following this link. Photo courtesy: T. Schneider / Shutterstock