Archer Aviation Stock Is Down Roughly 50% This Year. Here’s Why I’m Still Buying.
At first glance, Archer Aviation (NYSE: ACHR) has had a dismal year, at least judging by its stock price. The eVTOL (electric vertical takeoff and landing) stock has sunk to about $4 per share. It opened the year with a price of about $8. That’s a 50% drop — and the year hasn’t ended yet.
Below the surface, however, Archer hasn’t been at a standstill. Quite the contrary: Looking beyond the stock chart, the company has actually had a good year. In fact, it’s made enough progress that I think the beaten-down stock could be a compelling buy for certain investors. Let’s take a look.
Archer, to put it plainly, is making electric taxis. It is, along with Joby Aviation (NYSE: JOBY), a pioneer in the nascent eVTOL industry, which is itself part of a broader urban air mobility market that Morgan Stanley once estimated could be worth $9 trillion by 2050.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.