6 Reasons to Buy Archer Aviation Stock Like There's No Tomorrow
The fledgling eVTOL aircraft maker could still have a bright future.
Archer Aviation (NYSE: ACHR), a developer of electric vertical take-off and landing (eVTOL) aircraft, hasn't impressed too many investors since it went public by merging with a special-purpose acquisition (SPAC) company on Sept. 20, 2021. The combined company's stock started trading at $9.40 per share, but it didn't initially go much higher and subsequently sank to an all-time low of $1.63 on Dec. 27, 2022.
Like many other SPAC-backed companies, Archer overpromised and underdelivered. In its premerger presentation, it claimed it would produce its first 10 aircraft in 2024. But it eventually only delivered its first Midnight aircraft to the U.S. Air Force last August. Rising rates also compressed its valuations and cast a harsh light on its steep losses.
Image source: Archer Aviation.
