Cathie Wood Sells Tesla’s Chinese Rival BYD, Buys $6.3 Million of Air Taxi Stock Archer

On Tuesday, Cathie Wood-led Ark Invest sold shares of BYD Co. Ltd. (OTC:BYDDY), Palantir Technologies Inc. (NASDAQ:PLTR) and Amazon.com Inc. (NASDAQ:AMZN), while adding to Rocket Lab Corp. (NASDAQ:RKLB) and Archer Aviation Inc. (NYSE:ACHR).

The BYD Trade

ARK sold 132,535 BYD shares through the ARK Autonomous Technology & Robotics ETF (BATS:ARKQ), a trade worth about $1.2 million based on Tuesday’s closing price of $9.05.

BYD reported a smaller-than-expected increase in third-quarter profit on Oct. 29. Net profit rose 28% year over year to CNY 10 billion ($1.5 billion), below brokerage estimates compiled by Reuters ranging from CNY 11.4 billion ($1.71 billion) to CNY 12.95 billion ($1.94 billion).

Revenue increased 13.6% to CNY 221.5 billion ($33.21 billion), reversing a second-quarter decline. Global vehicle sales rose 18.8% to more than 1.32 million, with overseas shipments more than doubling as competition intensified at home and abroad.

The Palantir Trade

Ark sold 2,107 Palantir shares through ARK Blockchain & Fintech Innovation ETF (BATS:ARKF), worth approximately $355,704, based on Tuesday’s closing price of $168.82.

Palantir’s third-quarter results exceeded headline estimates, but investors focused on slowing forward indicators.

Total contract value growth cooled to 6% from 49%, while U.S. commercial contract value growth slowed to 11% from 153% in the prior period.

Direxion’s Ryan Lee said elevated expectations were weighing on the shares, noting that Palantir had entered earnings "priced to perfection."

The Amazon Trade

Ark sold 10,968 Amazon shares through ARK Innovation ETF (BATS:ARKK), a trade worth approximately $3 million, based on Tuesday’s closing price of $270.87.

Amazon stock rose earlier this week alongside a broader market rebound as investors assessed established cloud providers’ advantages amid scrutiny of new data-center construction.

UBS warned that potential construction delays could threaten approximately 30% of planned U.S. data-center capacity additions in 2028. Existing infrastructure could give large cloud operators such as Amazon an advantage as restrictions on power and water consumption complicate expansion.

The Rocket Lab Trade

Ark purchased 36,247 Rocket Lab shares through ARKK, 10,327 shares through ARKQ and 8,049 shares through ARK Space & Defense Innovation ETF (BATS:ARKX).

The combined purchase totaled 54,623 shares, worth approximately $3.4 million, based on Tuesday’s closing price of $62.71.

Rocket Lab reported mixed third-quarter results Monday. Revenue of $267.83 million exceeded estimates of $255.71 million, while its loss of 12 cents per share was wider than the expected loss of six cents.

The company projected fourth-quarter revenue of $270 million to $290 million and an adjusted EBITDA loss of $14 million to $20 million.

Cantor Fitzgerald analyst Andres Sheppard maintained Overweight but lowered his price target to $111 from $122. Piper Sandler’s Alexander Potter retained Neutral and cut his target to $58 from $83, while KeyBanc’s Michael Leshock reiterated Overweight with a $100 target.

The Archer Aviation Trade

Ark purchased 1,021,635 Archer shares through ARKK, 147,118 shares through ARKQ and 172,486 shares through ARKX.

The total number of shares was 1,341,239 and the trade was estimated to be valued at $6.3 million, based on the stock’s closing price of $4.71.

Archer Aviation reported third-quarter revenue of $5.10 million, beating analyst estimates of $3.57 million, while its loss of 35 cents per share was wider than the expected 34-cent loss. Despite the mixed results, shares rose 8.3% in premarket trading. Cantor Fitzgerald and Needham lowered their price targets to $10 and $7, respectively, while maintaining bullish ratings, as Archer advanced its aircraft certification efforts and anticipated closing its acquisition of Boeing subsidiaries ahead of year-end.

Other Key Trades

• eToro Group Ltd. (ETOR): Ark bought 33,241 shares through ARKF.
• Block Inc. (XYZ): Ark sold 35,000 shares through ARKK.
• Bullish (BLSH): Ark sold 15,609 shares through ARKF.
• Teradyne Inc. (TER): Ark sold 5,833 shares through ARKKK.
• Airbus SE (AIR): Ark sold 1,466 shares through ARKX.
• Honeywell Aerospace Inc. (HONA): Ark sold 6,045 shares through ARKX.

Benzinga Edge rankings indicate Archer Aviation stock has a Momentum score in the 6th percentile.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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