Why Archer Aviation Stock Popped 18.6% Last Month
Shares of Archer Aviation (NYSE: ACHR) popped 18.6% last month, according to data from S&P Global Market Intelligence. An electric vertical takeoff and landing (eVTOL) start-up, Archer Aviation, released an earnings update in May that highlighted its continued progress toward getting its innovative aircraft flying commercially and for defense contracts.
The pre-revenue stock remains down 20% this year. Here's why shares were rising in May, and whether now is a good time to add the stock to your portfolio.
Archer Aviation is one of a batch of publicly traded stocks trying to bring eVTOL technology to market. Its Midnight aircraft uses battery power and quiet rotors, which should allow it to operate throughout major urban areas. For the military, Archer is working with Anduril to make a similar aircraft. Since most defense stocks have been on fire in 2026, Archer likely got a bit of this tailwind as well.
Source Fool.com
