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Why Archer Aviation Stock Plummeted This Week

TheMotleyFool

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Why Archer Aviation Stock Plummeted This Week

Archer Aviation (NYSE: ACHR) stock rapidly lost altitude this week. The electric vertical take-off and landing (eVTOL) aviation company's share price was fell 27.1% across the stretch. Over the same period, the S 500 fell 1.6%, and the Nasdaq Composite fell 3%.

Archer Aviation lost ground amid a rise in bearish momentum for the broader market. The company's share price also got hit with a significant contraction on the heels of the company's third-quarter earnings report.

Image source: Archer Aviation.

Source Fool.com