ACHR - Why Archer Aviation Stock Is Soaring Today
2023-08-21 14:12:25 ET
Archer Aviation (NYSE: ACHR) stock is making big gains in Monday's trading following recent insider buying. The company's share price was up 16.9% as of 2 p.m. ET, according to data from S&P Global Market Intelligence .
Archer Aviation submitted filings to the Securities and Exchange Commission (SEC) on Friday showing company executives had purchased stock the day prior. With a new week of trading now under way, investors are viewing recent stock purchases made by leadership as a positive sign and are pouring into the stock.
Famous investor Peter Lynch once said, "Insiders might sell their shares for any number of reasons, but they buy them for only one: They think the price will rise." With most of Archer Aviation's executive team recently ramping up its investment in the company, it seems clear that leadership is becoming increasingly bullish about the business's future.
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Why Archer Aviation Stock Is Soaring Today