Cathie Wood’s ARK Invest Rebalances Portfolio with Tech and Aviation Focus
ARK Invest, led by Cathie Wood, executed strategic trades on January 8, capitalizing on market movements in semiconductor and electric aviation sectors. The firm deployed $10.4 million into Broadcom shares following a 3.2% price dip, signaling confidence in the chipmaker's long-term prospects despite broader market weakness.
Electric air taxi companies emerged as another focal point. ARK acquired $2.5 million in Joby Aviation stock after the company expanded its Ohio manufacturing footprint to 700,000 square feet for eVTOL production. The simultaneous investment in Archer Aviation underscores Wood's conviction in urban air mobility's disruptive potential.
Notable divestments included a $10.4 million reduction in Palantir Technologies, a curious MOVE given potential tailwinds from proposed defense budget increases. ARK also trimmed its Roku position after a 10% monthly gain, demonstrating disciplined profit-taking behavior.
