Cathie Wood sells Tesla shares, invests in electric air taxi company Archer Aviation.

Cathie Wood, CEO of Ark Invest, has been selling Tesla shares and investing in Archer Aviation, a company developing electric air taxis. Wood has sold over 800,000 Tesla shares since October, reinvesting in Archer Aviation to rebalance her portfolio. This move does not necessarily signal a preference for Archer over Tesla, but rather an investment in another emerging electric vehicle company.

November 16, 2024
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