Cathie Wood Just Bought 3,433,807 Shares of Archer Aviation Stock. Does She Know Something Wall Street Doesn't?
Archer Aviation stock just crashed, and Cathie Wood bought the dip.
In recent years, some growth investors have taken a keen interest in electric vertical take-off and landing (eVTOL) aircraft stocks. One of the favorites among retail and institutional investors alike is Archer Aviation (NYSE: ACHR), whose electric air taxis are promising to revolutionize the mobility industry.
Archer is currently the 11th-largest position across Ark Invest's portfolio, which is managed by popular tech investor Cathie Wood. On June 13, shares of Archer plummeted by 14%. Despite such a precipitous drop, Wood flew in and scooped up 3,433,807 shares across her exchange-traded funds (ETF).
Does Wood know something Wall Street doesn't about Archer?
