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September has historically been the most challenging month for investors, but Cathie Wood likes her chances. The founder-CEO of Ark Invest is always looking to optimize the aggressive growth exchange-traded funds she manages as chief investment officer, and she's not going to let market trends get in the way.
Wood was busier than usual as a buyer, kicking off the shortened holiday trading week. She bought Archer Aviation (NYSE: ACHR), Robinhood Markets (NASDAQ: HOOD), and Cerebras (NASDAQ: CBRS) on Tuesday, adding to existing Ark Invest positions. The stocks are 60%, 48%, and 24% below their recent highs, respectively. Let's take a closer look at these three stocks she saw as buying opportunities.
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It's easy to see why Archer Aviation is a battleground stock. It has a mere $6.9 million in trailing revenue, and that's not a typo, as it is practically a pre-revenue business. Archer Aviation stock is trading in the single digits, but commands a market cap of $4.5 billion. Is it any wonder why its average trading volume is roughly 36 million shares a day?