Cathie Wood Isn’t Done: Ark Adds Joby Aviation For 4th Day, Buys Cerebras Stock After Short Report

On Thursday, Cathie Wood-led Ark Invest purchased additional shares of Cerebras Systems Inc. (NASDAQ:CBRS) and Joby Aviation Inc. (NYSE:JOBY), extending its recent buying of both companies.

The Cerebras Trade

Ark Invest purchased 28,838 Cerebras shares through the ARK Innovation ETF (BATS:ARKK) and another 16,891 shares through the ARK Next Generation Internet ETF (BATS:ARKW).

The combined purchase totaled 45,729 shares, worth about $5.3 million at Thursday’s closing price of $115.16.

The firm purchased 42,276 shares on Wednesday, worth approximately $4.8 million at that session’s closing price. Across the two days, Ark bought 88,005 Cerebras shares, with an estimated combined value of nearly $10 million.

Cerebras shares fell Wednesday after Culper Research published a short report alleging that the company’s wafer-sized processors deteriorate after 18 to 30 months in service.

Culper questioned the chips’ durability and power consumption, as well as the economics of Cerebras’ OpenAI agreement. It also challenged the company’s extension of its estimated computer useful lives from 1.5–3 years to 3–5 years in its April registration filing.

The claims represent Culper’s allegations and opinions. The firm disclosed a short position, and some evidence came from unnamed former employees and customers.

The Joby Aviation Trade

Ark bought 180,133 Joby shares through ARK Autonomous Technology & Robotics ETF (BATS:ARKQ) and another 83,560 shares through ARK Space & Defense Innovation ETF (BATS:ARKX).

The combined purchase totaled 263,693 shares, worth approximately $1.3 million, based on Thursday’s closing price of $5.08.

The purchase marked Ark’s fourth consecutive trading session of adding Joby shares. It bought 434,012 shares on Monday, 884,681 on Tuesday and 653,692 on Wednesday, worth approximately $2 million, $4.4 million and $3.3 million, respectively.

Across those four sessions, Ark purchased 2,236,078 Joby shares, with an estimated combined value of nearly $11 million.

Joby is scheduled to report third-quarter results on Nov. 4. Estimates cited in Tuesday’s report 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 price target to $10 with an Equal-Weight rating on Oct. 19. Barclays downgraded Joby to Underweight with a $4 target on Oct. 9, while H.C. Wainwright maintained Buy with an $18 target on Sept. 21.

Other Key Trades

• Beam Therapeutics Inc. (BEAM): Ark purchased 36,201 shares through ARKG.
• Arcturus Therapeutics Holdings Inc. (ARCT): Ark bought 19,316 shares through ARKG.
• Kodiak AI Inc. (KDK): Ark purchased 139,706 shares through ARKQ.
• 10x Genomics Inc. (TXG): Ark sold 6,924 shares through ARKK.
• Tempus AI Inc. (TEM): Ark sold 7,625 shares through ARKK.
• CrowdStrike Holdings Inc. (CRWD): Ark sold 593 shares through ARKW.
• Cloudflare Inc. (NET): Ark sold 169 shares through ARKW.
• Rubrik Inc. (RBRK): Ark sold 713 shares through ARKW.

Benzinga Edge rankings indicate Joby stock has a Momentum score in the 2nd 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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