Here's Why Archer Aviation Stock Is a Buy Before May 8
The eVTOL maker's business could take off this year.
Archer Aviation (NYSE: ACHR), a maker of electric vertical take-off and landing (eVTOL) aircraft, has been a divisive stock ever since it went public by merging with a special purpose acquisition company (SPAC) in September 2021. The bulls claimed it would disrupt the helicopter industry with its electric aircraft, while the bears believed it would struggle to expand its fledgling business.
Archer's stock opened at $9.40 on its first trading day, but it sunk to an all-time low of $1.63 per share by Dec. 27, 2022. The bulls abandoned Archer after it missed its own pre-merger estimates and rising interest rates deflated its valuations.
Image source: Archer Aviation.
