Why Archer Aviation Stock Is Soaring Today
Archer Aviation (NYSE: ACHR) stock is making big gains in Thursday's trading. The flying-electric-vehicle company's share price was up 15% as of 11:30 a.m. ET.
Archer Aviation stock is surging today thanks to expectations that Stellantis will remain a significant partner despite the recently announced departure of the automaker's CEO. Archer may also be gaining ground due to a recently published article on TipRanks about Canaccord being bullish on the stock -- but there's a catch.
Earlier this week, Stellantis announced that CEO Carlos Tavares had resigned from his role at the company. Stellantis has been a major investor and partner for Archer Aviation, and the leadership change spurred concerns that the automaker could pivot from its partner role for Archer under new leadership. The market appears to be moving away from those concerns, and the stock is up roughly 146% over the last month.
Source Fool.com
