Why Archer Aviation Rallied This Week
Shares of electric flying taxi company Archer Aviation (NYSE: ACHR) rallied a whopping 40.6% this week through Thursday trading, according to data from S&P Global Market Intelligence.
Archer is an electric vertical takeoff and landing (eVTOL) taxi company that is pre-revenue, and was a darling of the pandemic bubble. Shares have seen been severely beaten-down, and were recently down about 80% below their highs reached shortly after their public debut in September 2021, when Archer went public via a special purpose acquisition company (SPAC).
However, Archer and rival Joby Aviation rallied hard this week after an analyst painted a rosy picture for these two eVTOL stocks.
Source Fool.com
