Cathie Wood-led Ark Invest increased holdings in Archer Aviation and Joby Aviation on Tuesday while reducing holdings in Taiwan Semiconductor Manufacturing and Advanced Micro Devices. The transactions continued the direction of Ark's trades on Monday.
Ark bought 351,511 Archer shares through the ARK Autonomous Technology & Robotics ETF (ARKQ) and 173,004 through the ARK Space & Defense Innovation ETF (ARKX). The total of 524,515 shares was worth approximately $2.2 million at Tuesday's closing price of $4.23. Ark had bought 1,161,604 Archer shares worth $4.8 million on Monday.
Archer reported second-quarter revenue of $5 million on August 10, above estimates of approximately $1.96 million. Archer's loss of 34 cents per share was in line with expectations. Archer finished the quarter holding approximately $1.56 billion in cash, cash equivalents and short-term investments. CEO Adam Goldstein highlighted plans to buy Wisk, Insitu and SkyGrid from Boeing to expand Archer's activities in air taxis, unmanned aircraft and AI. Archer said the company completed piloted flights of Midnight during the quarter to prepare for operations under the White House's eVTOL Integration Pilot Program.
Ark bought 589,736 Joby shares through ARKQ and 294,945 through ARKX. The total of 884,681 shares was worth approximately $4.4 million at Tuesday's closing price of $5.01. Ark had added 434,012 Joby shares on Monday, worth approximately $2 million at Monday's close. Ark's purchases over both days totaled 1,318,693 Joby shares with an estimated value of nearly $6.4 million.
Joby plans to release third-quarter results on November 4. Analysts forecast a loss of 25 cents per share, compared with a loss of 48 cents in the year-earlier quarter. Analysts expect revenue to rise to $39.22 million from $22.57 million. Morgan Stanley cut Joby's price target to $10 on October 19 with an Equal-Weight rating. Barclays lowered Joby's rating to Underweight on October 9 with a $4 price target. H.C. Wainwright retained a Buy rating and an $18 price target on September 21.
Ark sold 16,268 Taiwan Semiconductor shares through ARKQ and 7,903 through ARKX. The total of 24,171 shares was worth approximately $10.6 million at Tuesday's closing price of $436.87. Ark had sold 21,894 shares worth approximately $9.3 million on Monday. Ark's sales over both sessions totaled 46,065 shares with an estimated value of $19.9 million. Moody's Ratings raised TSMC's credit rating from Aa3 to Aa2 last week, citing advanced chip manufacturing leadership, financial strength and rising AI demand.
Ark sold 19,797 AMD shares through ARKQ and 9,169 through ARKX. The total of 28,966 shares was worth approximately $16.2 million at Tuesday's closing price of $560.26. Ark had sold 24,796 AMD shares worth approximately $13.2 million on Monday. Ark's sales over both days totaled 53,762 shares with an estimated value of $29.4 million.
AMD plans to release third-quarter earnings on November 3. Estimates cited on Friday put earnings at $1.95 per share, compared with $1.20 in the year-earlier quarter. The revenue estimate was $13.08 billion, compared with $9.25 billion a year earlier. Susquehanna retained a Positive rating on October 21 and increased AMD's price target to $620. Wedbush retained an Outperform rating and a $600 price target on October 20. Citigroup retained a Buy rating on October 6 and increased AMD's price target to $800. Benzinga Edge rankings place AMD's Growth score in the 94th percentile and AMD's Value score in the 3rd percentile.
Ark Invest Buys $6.4M in Joby and Archer Shares, Sells $19.9M in TSMC and $29.4M in AMD
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Summary
Ark Invest made key on-chain news moves Tuesday, buying $6.4 million in Joby and Archer Aviation shares while selling $19.9 million in TSMC and $29.4 million in AMD. The firm added 524,515 Archer shares ($2.2M) and 884,681 Joby shares ($4.4M). Over two days, Ark bought 1.3 million Joby shares. TSMC and AMD saw heavy exits, with 24,171 TSMC shares sold for $10.6M and 28,966 AMD shares for $16.2M on Tuesday alone. AI + crypto news continues to highlight Ark’s active trading patterns.
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