Why Archer Aviation Stock Is Falling Today
Shares of the electric vertical takeoff and landing (eVTOL) company Archer Aviation (NYSE: ACHR) are coming in for a hard landing today as investors begin to realize that 's announcement yesterday has nothing to do with aviation.
Archer's stock spiked yesterday on hopes that the eVTOL industry might get some more important news from Tesla entering the market, but the company's announcement was instead focused solely on EVs. As a result, Archer Aviation's shares were down by more than 10% earlier this morning, and had given up 6.5% as of 11:24 a.m. ET.
Image source: Archer Aviation.
Source Fool.com
