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Cathie Wood Places $1.74 Million Bet on Robotaxi Company as Driverless Tech Gains Momentum

MarketDash Editorial Team
4 days ago
Ark Invest purchased nearly 200,000 shares of WeRide Inc. as the autonomous vehicle company expands its robotaxi services globally. The move signals growing confidence in the driverless vehicle revolution, even as momentum metrics lag behind competitors like Tesla and Alphabet.

Cathie Wood's Ark Invest made a notable move into the autonomous vehicle space Wednesday, scooping up shares of WeRide Inc. (WRD) worth about $1.74 million. It's the kind of bet that signals Wood sees something interesting happening in the driverless revolution, even if the stock's momentum metrics aren't exactly screaming "rocket ship."

The Robotaxi Play

The ARK Autonomous Technology & Robotics ETF (ARKQ) picked up 191,149 shares of WeRide, timing the purchase as the stock gained 5.19% to close at $9.12. The market seems to like what WeRide is doing, and there's actually some substance behind the optimism.

WeRide has been making real progress expanding its robotaxi services internationally. The company just launched Level 4 fully driverless operations in Abu Dhabi in partnership with Uber, making it the first city in the Middle East to offer autonomous rides through the Uber platform. That's not just a pilot program or vaporware—these are actual driverless cars picking up actual passengers.

And here's where it gets interesting: WeRide's robotaxi rollout is actually showing up in the financials. The company is seeing revenue growth while simultaneously reducing losses as it scales up its global fleet. That's the kind of operational progress that gets growth investors like Wood excited—a business model that improves as it expands rather than bleeding more cash with each new market.

Ark's investment reflects confidence that WeRide can capitalize on the growing appetite for autonomous transportation. The autonomous vehicle market has been "just around the corner" for years now, but companies like WeRide are turning the promise into actual commercial operations.

Other Notable Moves

Wednesday wasn't just about robotaxis. Ark made several other trades worth noting:

  • GeneDx Holdings Corp (WGS): The ARKG fund bought 15,064 shares while ARKK purchased 8,660 shares
  • Iridium Communications Inc. (IRDM): ARKK sold 162,592 shares and ARKQ offloaded 40,572 shares
  • Ibotta Inc. (IBTA): ARKF sold 31,524 shares and ARKW dumped 28,780 shares
  • Shopify Inc. (SHOP): ARKK added 1,551 shares
  • Bullish (BLSH): ARKK picked up 1,254 shares

The Momentum Question

Here's the wrinkle: According to market data, WeRide stock sits in just the 12th percentile for momentum when compared to other robotaxi players like Tesla and Alphabet. That means 88% of comparable stocks are showing stronger momentum metrics.

So Wood is buying a robotaxi stock with weak relative momentum but strong operational progress. It's a bet that fundamentals will eventually trump trading patterns—that what's happening on the ground in Abu Dhabi and other markets matters more than where the stock ranks on a momentum screen. Classic growth investing: look past what the market is pricing today and focus on where the business is headed tomorrow.

Back to News

Cathie Wood Places $1.74 Million Bet on Robotaxi Company as Driverless Tech Gains Momentum

MarketDash Editorial Team
4 days ago
Ark Invest purchased nearly 200,000 shares of WeRide Inc. as the autonomous vehicle company expands its robotaxi services globally. The move signals growing confidence in the driverless vehicle revolution, even as momentum metrics lag behind competitors like Tesla and Alphabet.

Cathie Wood's Ark Invest made a notable move into the autonomous vehicle space Wednesday, scooping up shares of WeRide Inc. (WRD) worth about $1.74 million. It's the kind of bet that signals Wood sees something interesting happening in the driverless revolution, even if the stock's momentum metrics aren't exactly screaming "rocket ship."

The Robotaxi Play

The ARK Autonomous Technology & Robotics ETF (ARKQ) picked up 191,149 shares of WeRide, timing the purchase as the stock gained 5.19% to close at $9.12. The market seems to like what WeRide is doing, and there's actually some substance behind the optimism.

WeRide has been making real progress expanding its robotaxi services internationally. The company just launched Level 4 fully driverless operations in Abu Dhabi in partnership with Uber, making it the first city in the Middle East to offer autonomous rides through the Uber platform. That's not just a pilot program or vaporware—these are actual driverless cars picking up actual passengers.

And here's where it gets interesting: WeRide's robotaxi rollout is actually showing up in the financials. The company is seeing revenue growth while simultaneously reducing losses as it scales up its global fleet. That's the kind of operational progress that gets growth investors like Wood excited—a business model that improves as it expands rather than bleeding more cash with each new market.

Ark's investment reflects confidence that WeRide can capitalize on the growing appetite for autonomous transportation. The autonomous vehicle market has been "just around the corner" for years now, but companies like WeRide are turning the promise into actual commercial operations.

Other Notable Moves

Wednesday wasn't just about robotaxis. Ark made several other trades worth noting:

  • GeneDx Holdings Corp (WGS): The ARKG fund bought 15,064 shares while ARKK purchased 8,660 shares
  • Iridium Communications Inc. (IRDM): ARKK sold 162,592 shares and ARKQ offloaded 40,572 shares
  • Ibotta Inc. (IBTA): ARKF sold 31,524 shares and ARKW dumped 28,780 shares
  • Shopify Inc. (SHOP): ARKK added 1,551 shares
  • Bullish (BLSH): ARKK picked up 1,254 shares

The Momentum Question

Here's the wrinkle: According to market data, WeRide stock sits in just the 12th percentile for momentum when compared to other robotaxi players like Tesla and Alphabet. That means 88% of comparable stocks are showing stronger momentum metrics.

So Wood is buying a robotaxi stock with weak relative momentum but strong operational progress. It's a bet that fundamentals will eventually trump trading patterns—that what's happening on the ground in Abu Dhabi and other markets matters more than where the stock ranks on a momentum screen. Classic growth investing: look past what the market is pricing today and focus on where the business is headed tomorrow.