Archer Aviation Skyrocketed Today -- Is the eVTOL Stock a Buy?
Archer Aviation (NYSE: ACHR) stock soared in Monday's trading. The company's share price ended the daily session up 13.1% amid the backdrop of a 0.7% gain for the S&P 500 (SNPINDEX: ^GSPC) and a 1% gain for the Nasdaq Composite (NASDAQINDEX: ^IXIC).In addition to the bullish backdrop for the broader market, Archer Aviation stock appears to have gotten a lift from an article published by The National yesterday. The article outlines the electric vertical takeoff and landing (eVTOL) aircraft specialist's plans to launch commercial operations in Abu Dhabi this year, and includes some interesting information about the company's pricing plans.For example, Archer Aviation CEO Adam Goldstein said that a roughly 22-mile trip between two destinations in Abu Dhabi would cost approximately $95 on a currency-adjusted basis. Goldstein emphasized that his company's air taxis offered convenience advantages and would not just be tools for the rich.Continue reading
Archer Aviation (NYSE: ACHR) stock soared in Monday's trading. The company's share price ended the daily session up 13.1% amid the backdrop of a 0.7% gain for the S&P 500 (SNPINDEX: ^GSPC) and a 1% gain for the Nasdaq Composite (NASDAQINDEX: ^IXIC).
In addition to the bullish backdrop for the broader market, Archer Aviation stock appears to have gotten a lift from an article published by The National yesterday. The article outlines the electric vertical takeoff and landing (eVTOL) aircraft specialist's plans to launch commercial operations in Abu Dhabi this year, and includes some interesting information about the company's pricing plans.
For example, Archer Aviation CEO Adam Goldstein said that a roughly 22-mile trip between two destinations in Abu Dhabi would cost approximately $95 on a currency-adjusted basis. Goldstein emphasized that his company's air taxis offered convenience advantages and would not just be tools for the rich.
