Cathie Wood, Flying Taxis, and ARK Versus a Grizzly Bear
- Firm boosts stake in air-taxi company targeted by short seller
- Clash recalls face-off in autonomous-truck developer TuSimple
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The last time Cathie Wood and ARK Investment Management found themselves on the opposite side of a call made by Grizzly Research, they lost tens of millions of dollars. It’s not stopping them from facing down the activist short seller once again.
Wood’s firm has been scooping up shares in a developer of air taxis named Archer Aviation Inc., boosting an existing stake in the venture to around 10% across several ETFs. The holding is part of a broader wager on “urban air mobility,” which seeks to use small aircraft to revolutionize the transport of both passengers and cargo — exactly the kind of disruptive bet beloved by the innovation-focused money manager.