Summary by Moomoo AI
ARK Investment Management LLC, an investment adviser based in Delaware, United States, has filed an amendment to its Schedule 13G with the United States Securities and Exchange Commission on January 29, 2024, indicating a significant stake in Archer Aviation Inc. According to the filing, ARK Investment Management LLC owns 24,907,280 shares of Archer Aviation's Class A Common Stock, which represents 9.80% of the class. The filing, which is an update to a previous submission, details that ARK Investment has sole voting power over 23,933,872 shares and shared voting power over 539,341 shares. The firm also has sole dispositive power over the entire 24,907,280 shares it owns. The filing was made pursuant to Rule 13d-1(b) of the Securities Exchange Act of 1934, and it asserts that the shares were acquired in the ordinary course of business, not with the intention of changing or influencing the control of Archer Aviation.