Closely watched stock picker Cathie Wood has scooped up more than 10 percent of Blade, the luxe helicopter and private jet service.
New York-based Blade — which went public late last year via a blank-check company in a deal that valued the firm at $825 million — is pushing to introduce “electric vertical aircrafts,” also known as EVAs, to its fleet in 2024.
Blade has been making bold moves in recent years, expanding beyond local helicopter trips from New York City to the Hamptons. Now, Blade flies to several cities across the country, including to Los Angeles and Miami.
According to a recent SEC filing, Wood’s firm ARK Investment Management now owns 10.11 percent of Blade, or just over 7 million shares.
ARK also has heavily invested in electric car maker Tesla, and the firm said it has a long-term bullish view on the stock with a price target of $3,000 by 2025. It also has invested in Blade competitors Joby Aviation and Archer Aviation.
A source with insight on Wood’s investing strategy told The Post that her firm, which is best known for its line of actively traded ETFs, or exchange-traded funds, views Blade as an index play.
Wood has publicly acknowledged her interest in the eVTOL or electric vertical take-off and landing space, including funding drones and electric aircrafts in recent months.
A source close to Blade said that Ark’s investment is a long-term strategy, and noted that Blade’s recent acquisition of Trinity Air Medical, an organ transplant company, piqued the interest of Wood.
Blade bought Trinity in September for $23 million and it has since replaced Trinity’s ambulances on certain hospital-to-hospital missions. Down the line, Blade said it will employ electric vertical aircrafts and drones to transport organs once available.