Investor followed closely Cathie Boisthe investment management company of Ark Invest took more actions in Blade Air Mobility Inc (NASDAQ: BLDE), a provider of private on-demand luxury helicopters and seaplanes, Tuesday.
Ark Invest, based in St. Petersburg, Fla., Acquired 11,926 shares – valued at $ 98,270 – in Blade Air, a company that went public last year through a blank check acquisition.
Blade Air had revealed in November in a file that Ark Invest had already constituted more than 10% of the capital of the company. The investment company has since accumulated more shares in the company which seeks to introduce electric vertical planes in 2024.
Blade Air stock closed up 3.39% at $ 8.24 per share on Tuesday. New York-based Blade Air Mobility stock is down 26.4% year-to-date.
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Ark Invest bought shares of the company through the ETF Ark on Autonomous Technology and Robotics (BATS: ARKQ) and also holds the stock through the Ark space exploration and innovation ETF (BATS: ARKX).
Both ETFs held 7.9 million shares – worth around $ 65.2 million – in Blade Air ahead of Tuesday’s trades.
Ark Invest also holds shares in Joby Aviation Inc (NYSE: JOBY), a title in which he is much less exposed. California-based Joby Aviation is developing an electric vertical take-off and landing plane that it aims to operate as an air taxi service.
Wood’s firm further reduced its position in Tesla Inc (NASDAQ: TSLA), while racking up shares in rival Chinese electric vehicle maker Xpeng Inc (NASDAQ: XPEV).
Photo: Courtesy of Blade Air Mobility