Cathie Wood's Sky-High Vision: Dumps Shares Of Cybercab Touting Tesla For This eVTOL Play

On Tuesday, Cathie Wood’s Ark Invest made some significant trades, most notably selling shares of Tesla Inc TSLA and buying a substantial amount of Archer Aviation Inc ACHR.The Tesla TradeARK Innovation ETF ARKK and ARK Next Generation Internet ETF ARKW sold 13,896 shares of Tesla, a move that followed a series of transactions carried out by Ark Invest’s various ETFs on Monday, as reported in a Benzinga article. The value of this trade, based on Tesla’s closing price of $259.52 on Tuesday, is approximately $3.6 million.Ark Invest's moves follow Tesla's impressive third-quarter earnings, which surpassed expectations with improved margins, along with a strong 2025 vehicle delivery forecast that analysts viewed positively.The Archer Aviation TradeArcher Aviation, a company at the forefront of the rapidly evolving urban air mobility (UAM) market, saw a significant boost from Ark Invest. ARKK bought a whopping 830,130 shares of Archer Aviation. This investment, calculated from Archer’s closing price of $3.36 on Tuesday, amounts to about $2.79 million.The purchase comes at a time when Archer Aviation is making strides in the development of electric vertical takeoff and landing (eVTOL) aircraft. The Federal Aviation Administration (FAA) recently issued a final rule establishing a new category of aircraft called “powered lift,” which applies to eVTOL aircraft, marking an important step towards bringing eVTOLS into U.S. airspace.See Also: Dogecoin Lifts 15% Amid Rising Odds Of Trump Victory In Betting Markets And Expectations Of Elon Musk Heading ‘DOGE’ DepartmentOther Key Trades: Ark Invest’s ARK Fintech Innovation ETF (ARKF) sold 16,396 shares of Robinhood Markets Inc (HOOD) worth $459,579. Meanwhile, ARKK and ARKW bought a total of 1,642 shares of Meta Platforms Inc. (META) worth $974,165.ARK Genomic Revolution ETF (ARKG) bought shares of Illumina Inc (ILMN) and sold shares of CareDx Inc (CDNA). ARK Innovation ETF (ARKK) sold shares of Unity Software Inc (U) and bought shares of Natera Inc (NTRA).Read Next: F, AMD, DJT, MSTR, TSLA: Top 5 Trending Stocks TodayThis story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal