Why Archer Aviation Stock Skyrocketed Last Week
Archer Aviation (NYSE: ACHR) stock closed out the past week of trading with big gains. At the end of Friday's trading, the electric-vertical-takeoff-and-landing (eVTOL) specialist's share price was up 26.5% from the previous week's market close.
Archer Aviation roared higher following news that its competitor Joby Aviation is scaling up its manufacturing operations. Archer stock also got a boost from rising excitement surrounding drones for the defense industry.
Image source: Getty Images.
Source Fool.com
