Time to Sound the Alarm on Archer Aviation?
Archer Aviation (NYSE: ACHR), an early mover in the nascent market for electric vertical takeoff-and-landing (eVTOL) aircraft, set a record high of $17.14 per share on Feb. 18, 2021. Today, it trades at less than $5. Is it time to sound the alarm on this fallen stock?
Before Archer went public through a merger with a special purpose acquisition company (SPAC), it claimed it could produce 10 eVTOLs in 2024 and 250 eVTOLs in 2025. But as of this writing, it has only manufactured two test aircraft and one full-scale Midnight aircraft.
Image source: Archer Aviation.
Source Fool.com
