Ceasul Cathie Wood: Ark Buys Aerospace, China Car Maker; Vinde Pharma

Star investor Cathie Wood, chief executive of Ark Investment Management, remains active in the tumultuous stock market, on Monday buying aerospace and Chinese-vehicle shares. She sold pharmaceutical stocks.

Ark funds purchased 817,817 shares of Archer Aviation (CEDO) , an electric taxi aircraft maker, which was valued at $2.4 million. (All valuations are as of Monday’s close.)

Cathie Wood Watch: Ark Buys Biotech, Electric-Air-Taxi Producer

ETF Tehnologie Autonomă și Robotică Ark (ARKQ) - Obțineți raportul ARK Autonomous Technology & Robotics ETF bought 53,228 shares of China’s BYD (BYDDY) , which makes electric cars, valued at $2.3 million.

As for the pharma selling, Ark Genomic Revolution ETF (ARKG) - Obțineți raportul ARK Genomic Revolution ETF sold 59,043 shares of Pfizer (PFE) - Obțineți raportul Pfizer Inc, evaluat la 3.1 milioane de dolari.

Ark Genomic Revolution shed 4,785 shares of Regeneron (regn) - Obțineți raportul Regeneron Pharmaceuticals, Inc, valued at $3.1 million. And Ark Genomic unloaded 32,331 shares of Vertex Pharmaceuticals (VRTX) - Obțineți raportul Vertex Pharmaceuticals Incorporated, evaluat la 21.2 milioane de dolari.

Cathie Wood Watch: Ark Seeks to 3D-Print Investing Profits

Wood last week offered an interesting take on oil prices, as they soared in reaction to Russia’s invasion of Ukraine.

She wrote on Twitter that she erred in 2020, when she said oil demand probably peaked in 2019 and prices were headed down to $12.

“I got the supply shock wrong,” Wood wrote. “That said, the accelerated shift toward electric transportation will destroy oil consumption at the margin. Long-term, though longer-term than I expected, oil prices will collapse under the weight of lower demand. Innovation solves problems!”

Source: https://www.thestreet.com/investing/cathie-wood-ark-buys-areospace-china-car-maker-sells-pharma?puc=yahoo&cm_ven=YAHOO&yptr=yahoo