Cathie Wood’s ARK Invest Adds Another $1.7M In ACHR Stock For Second Straight Day— Retail Turns Bullish

• Cathie Wood’s ARK funds bought more Archer Aviation shares on Wednesday. 
• Wood also sees eVTOL aircraft transforming urban travel by reducing travel times.
• Archer’s Midnight aircraft received FAA approval for piloted flights in Los Angeles.

Cathie Wood’s ARK Invest has doubled down on its bullish conviction in the electric vertical takeoff and landing (eVTOL) sector, purchasing an additional 348,176 shares of Archer Aviation Inc. (ACHR) valued about $1.7 million across three of its flagship exchange-traded funds on Wednesday. 

Coming on the heels of a massive multi-million-dollar accumulation sweep earlier on Tuesday, this consecutive day of buying has ignited strong retail momentum. Archer Aviation stock traded 1.8% lower overnight Wednesday. 

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ARK Funds Increase Their Bets On Archer Aviation

Cathie Wood’s ARK funds continued buying Archer Aviation shares despite recent market volatility and earnings-related concerns. ARK Innovation ETF (ARKK) added 184,601 shares, ARK Autonomous Technology & Robotics ETF (ARKQ) purchased 132,624 shares, and ARK Space Exploration & Innovation ETF (ARKX) bought another 30,951 shares. 

In an X post last month, Wood highlighted eVTOL aircraft's potential to reshape urban transportation. She believes the technology could shorten intercity travel times and eventually make air taxi services affordable enough to compete with conventional taxi rides. 

Archer Moves Closer To LA28 Air Taxi Trials

On Monday, Archer Aviation reported Q3 revenue of $5.1 million, beating the $3.57 million analyst estimate. However, its net loss widened to $274.5 million, resulting in a loss of $0.35 per share, slightly worse than the expected $0.34. 

After the earnings, Wood’s ARK funds increased their Archer Aviation holdings, with ARKK buying 1.02 million shares, ARKQ adding 147,118 shares, and ARKX purchasing 172,486 shares. 

Archer’s Midnight aircraft also received an FAA certificate allowing piloted flights in Los Angeles, bringing the company closer to testing air taxi services ahead of the 2028 Olympics. 

On Wednesday, Canaccord lowered its price target on Archer Aviation to $9.50 from $12 but maintained a ‘Buy’ rating. After reviewing the company's Q3 results, the firm said the first piloted transition flight of its Midnight aircraft is now expected in December, about nine months later than planned due to software testing delays. 

ACHR  Stock: Retail View 

On Stocktwits, retail sentiment around the stock turned ‘bullish’ from ‘neutral’.  

A user said, “DO NOT SELL!!! HOLD AND SMOKE A CIGAR!!! ARCHER WILL HAVE A PAYING PASSENGER BY 2027!!!”

Another user said, “Earnings was great. Revenue will be coming soon. Creating a moat.” 

ACHR stock has cratered 35% year-to-date. 

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