On Wednesday, Cathie Wood-led Ark Invest purchased shares of Robinhood Markets Inc. (NASDAQ:HOOD), Cerebras Systems Inc. (NASDAQ:CBRS), Archer Aviation Inc. (NYSE:ACHR) and Joby Aviation Inc. (NYSE:JOBY).
The firm also continued trimming Advanced Micro Devices Inc. (NASDAQ:AMD) and Taiwan Semiconductor Manufacturing Co. (NYSE:TSM).
The Robinhood Trade
Ark purchased 12,115 Robinhood shares through ARK Blockchain & Fintech Innovation ETF (BATS:ARKF), 69,604 shares through the ARK Innovation ETF (BATS:ARKK) and 17,699 shares through the ARK Next Generation Internet ETF (BATS:ARKW).
The combined purchase totaled 99,418 shares, a trade worth approximately $9.1 million, based on Wednesday’s closing price of $91.43.
Robinhood reported record third-quarter revenue of $1.424 billion, up 12% year over year and slightly above estimates of $1.422 billion. Adjusted earnings of 60 cents per share exceeded expectations of 56 cents.
Event-contract revenue rose more than sixfold to $173 million, while cryptocurrency revenue fell 55% to $120 million. Total operating expenses increased 16% to $739 million.
Robinhood declined to provide a 2026 total operating expense outlook, citing uncertainty around credit-loss provisions and potentially significant regulatory expenses. It also agreed to stop offering new sports-related event contracts in Ohio by Nov. 2 while legal appeals proceed.
The Cerebras Trade
Ark bought 28,168 Cerebras shares through ARKK and 14,108 shares through ARKW. The combined purchase totaled 42,276 shares, worth approximately $4.8 million, based on Wednesday’s closing price of $112.56.
Cerebras shares fell after Culper Research published a short report alleging that its wafer-sized processors deteriorate after 18 to 30 months of service.
Culper questioned the chips’ durability, power consumption and the economics of Cerebras’ OpenAI agreement. It also challenged the company’s decision to extend its estimated useful life of computers from 1.5–3 years to 3–5 years in its April registration filing.
The allegations represent Culper’s views. The firm disclosed a short position, and some supporting accounts came from unnamed former employees and customers.
The Archer Aviation Trade
ARK purchased 649,240 Archer shares through ARK Autonomous Technology & Robotics ETF (BATS:ARKQ) and another 318,635 shares through ARK Space & Defense Innovation ETF (BATS:ARKX).
The combined purchase totaled 967,875 shares, a trade worth approximately $4.2 million, based on Wednesday’s closing price of $4.34.
The firm had bought 524,515 shares on Tuesday, worth approximately $2.2 million, after purchasing 1,161,604 shares, worth $4.8 million, on Monday.
Archer recently announced plans for air-taxi networks in Houston, Dallas and Austin. The proposed networks would connect airports, business districts and other destinations across the Texas Triangle.
The company said its Midnight aircraft could offer 10- to 20-minute flights as alternatives to hour-long drives. The planned Texas operations form part of the White House’s eVTOL Integration Pilot Program.
The Joby Aviation Trade
Ark bought 442,095 Joby shares through ARKQ and 211,597 shares through ARKX.
The combined purchase totaled 653,692 shares, worth approximately $3.3 million, based on Wednesday’s closing price of $5.08.
Ark had purchased 884,681 shares on Tuesday, worth approximately $4.4 million, and 434,012 shares on Monday, worth approximately $2 million.
Joby is scheduled to report third-quarter results on Nov. 4. Estimates cited Tuesday called for a loss of 25 cents per share, compared with a loss of 48 cents a year earlier, and revenue of $39.22 million, up from $22.57 million.
Recent analyst actions included Morgan Stanley lowering its target to $10 with an Equal-Weight rating and Barclays downgrading Joby to Underweight with a $4 target.
The AMD Trade
Ark sold 4,135 AMD shares through ARKQ and 1,600 shares through ARKX. The combined sale totaled 5,735 shares, worth approximately $3.3 million, based on Wednesday’s closing price of $578.44.
The firm had sold 28,966 shares on Tuesday, worth approximately $16.2 million, following Monday’s sale of 24,796 shares, worth approximately $13.2 million.
AMD is scheduled to report third-quarter earnings on Nov. 3. Estimates cited in Friday’s report called for earnings of $1.95 per share and revenue of $13.08 billion, compared with $1.20 and $9.25 billion a year earlier.
Susquehanna maintained a Positive rating and raised its target to $620 on Oct. 21, while Wedbush maintained Outperform and a $600 target on Oct. 20.
The Taiwan Semiconductor Trade
Ark sold 7,491 Taiwan Semiconductor shares through ARKQ and 3,224 shares through ARKX.
The combined sale totaled 10,715 shares, worth approximately $4.7 million, based on Wednesday’s closing price of $439.51.
The firm had sold 24,171 shares on Tuesday, worth approximately $10.6 million, and 21,894 shares on Monday, worth approximately $9.3 million.
Last week, Moody’s Ratings upgraded TSMC’s credit rating to Aa2 from Aa3, citing its advanced chip manufacturing leadership, financial strength and growing AI demand.
Other Key Trades
- Teradyne Inc. (TER): ARKK, ARKQ and ARKX purchased a combined 74,691 shares.
- AeroVironment Inc. (AVAV): ARKQ and ARKX bought a combined 14,591 shares.
- Kodiak AI Inc. (KDK): Ark purchased 277,891 shares through ARKQ.
- Beam Therapeutics Inc. (BEAM): Ark bought 4,497 shares through ARKG.
- ARK 21Shares Bitcoin ETF (ARKB): Ark sold 42,364 shares through ARKF.
- Tempus AI Inc. (TEM): Ark sold 58,371 shares through ARKK.
- Twist Bioscience Corp. (TWST): Ark sold 42,187 shares through ARKK.
- 10x Genomics Inc. (TXG): Ark sold 48,140 shares through ARKK.
Benzinga Edge rankings indicate Joby stock has a Momentum score in the 2nd percentile.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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