Here's Why Archer Aviation Stock Is Soaring Today
Shares of Archer Aviation (NYSE: ACHR) rekindled their choppy recovery rally today, up 11.7% as of 2:33 p.m. ET. While the reason for the big move doesn't directly translate into real revenue or profit progress, it certainly makes both much more likely than was first anticipated.
Credit President Donald Trump, mostly. With an executive order signed late Friday, the U.S. president has hastened the advent of the United States' electric air taxi industry that will provide personal mobility from one specific inner-city location to another. The order explicitly requests that the Secretary of Transportation begin laying the groundwork for the development of an official eVTOL (electric vertical takeoff and landing) pilot program that includes the participation of at least one "private sector partner with demonstrated experience in eVTOL aircraft development, manufacturing, and operations."
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