ACHR - Is This Cathie Wood EV Stock Flying Under The Radar?
2023-09-25 07:45:00 ET
When it comes to electric vehicles (EVs), names such as Tesla , Rivian , or Nio probably come to mind first. But did you know that EVs are making their way to the skies as well? While it might sound like something out of a science fiction novel, several companies are competing to develop small electric vertical takeoff and landing (eVTOL) aircraft.
One company leading that charge is Archer Aviation (NYSE: ACHR) . It has made notable progress throughout 2023 as it works toward commercializing its air taxis, and the stock is a Cathie Wood favorite. But does Archer deserve a spot in your portfolio?
The idea of eVTOL taxis admittedly sounds a little far-fetched, at first. Yet the concept is so intriguing that I was compelled to dig further.
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Is This Cathie Wood EV Stock Flying Under The Radar?