Why Archer Aviation Stock Is Plummeting Today
Archer Aviation (NYSE: ACHR) is falling fast in Monday's trading. The flying-taxi specialist's share price was down 26.2% as of 12:15 p.m. ET.
Archer Aviation is sinking today in conjunction with surging short interest on the stock. On the heels of explosive gains over the last month, some investors are now placing big bets that the company's share price will go down in the near term.
Even with today's big sell-off, Archer Aviation stock is still up roughly 115% over the last month. Bullish momentum for the stock was supercharged following analyst coverage from Needham published on Nov. 19. The firm's analysts outlined a bullish position on the flying-taxi space and related regulatory developments, and it stated that Archer's large order book put the company in good position to capitalize if and when the industry takes off.
Source Fool.com
