ACHR - Archer Aviation rallies again after Stellantis eVTOL investment creates some buzz

Archer Aviation Inc. ( NYSE: ACHR ) is being sized up differently by analysts after landing an eVTOL investment from Stellantis ( STLA ).

Deutsche Bank thinks the Stellantis ( STLA ) deal should help alleviate some of the overhang from investors cautious on the upside with Archer Aviation ( ACHR ) stock.

Analyst Edison Yu: "While Archer has operationally delivered on several key objectives in the past few months (production vehicle unveil and specs, full flight transition, air worthiness criteria published in the FAA register), the stock has continued to languish. We attribute this to 2 tactical factors, both of which are getting addressed by the Stellantis deal announced earlier today."

Archer ( ACHR ) is expected to start production in 2024 of the plane that will be able to carry a pilot and four passenger for a range of 100 miles.

Shares of Archer Aviation ( ACHR ) rose another 6.16% in premarket action on Thursday after a 9.33% rally on Wednesday. The eVTOL stock still trades well below its 50-day, 100-day, amd 200-day moving averages.

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