Archer Aviation (NYSE: ACHR) stock posted big gains in Thursday’s trading. The flying taxi company’s share price closed out the day up 10.1% and had been up as much as 20.3% earlier in the session.
Archer Aviation stock climbed today as investors became more confident that automaker Stellantis will remain an active partner despite the departure of its CEO, Carlos Tavares. Stellantis has been a significant backer of Archer Aviation and had recently agreed to contribute up to $400 million to scale production of the flying taxi specialist’s Midnight aircraft.
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In addition to the positive shift on Stellantis-related sentiment, Archer Aviation stock may also have gotten a boost from analyst coverage that was highlighted at TipRanks. The website spotlighted bullish coverage Canaccord published roughly a month ago in an article titled “Canaccord Pounds the Table on Archer Aviation Stock.”
Is it too late to buy Archer Aviation stock?
Archer Aviation has been on an incredible run lately. The company’s share price is up roughly 137% over the last month. In addition to some encouraging business developments and an improving outlook on the regulatory front, Archer has also achieved meme-stock status. The flying-taxi specialist has become a popular play for highly risk-tolerant investors looking to score explosive returns, and its share price can see volatile swings on relatively little relevant business news right now.
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Archer’s business is still in a pre-revenue state, and the dramatic rise in the company’s share price has pushed the risk profile of shares higher, but it’s possible that the company could be on the verge of a big growth story. The company has roughly $6 billion in vehicle orders, and it’s possible that favorable regulatory developments could occur in key markets before long. If so, Archer could quickly make the jump to selling its vehicles — opening the door for potentially explosive stock gains.
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