Can Archer Aviation Make You an eVTOL Millionaire?
The high-risk pre-revenue company is getting a lot of investor interest.
Electric air taxis -- otherwise called electric vertical takeoff and landing (eVTOL) aircraft -- have entered the investor zeitgeist. Many companies are aiming to build this innovative transportation vehicle, and perhaps none more aggressively than Archer Aviation (NYSE: ACHR). The start-up has raised billions of dollars and is aiming to sell its vehicle for air taxi networks around the world.
Investors have hyped up this pre-revenue stock, driving up the price by 226% in the last 12 months alone. Will Archer Aviation stock help make you a millionaire? The story is more complicated than you think. Here's why Archer Aviation is a high-risk stock that investors should be heedful of buying today.
Archer Aviation is a manufacturer building an eVTOL called the Midnight. Powered by electric batteries, this aircraft will have a pilot and four passengers that can take off vertically like a helicopter, but with minimal noise disruptions. It will be able to travel through the air to point-to-point destinations, which will be operated by Archer Aviation and its partners such as United Airlines. It is also working with partners internationally to build air taxi networks, including Abu Dhabi Aviation.
