ACHR - Why Did Archer Aviation Stock Soar?
2024-07-03 12:41:25 ET
Summary
- Archer Aviation achieved Part 135 Air Carrier & Operator Certificate milestone in June, setting up business infrastructure.
- Signed agreement with Signature Aviation for air taxi services, including installation of rapid charging systems at terminals.
- Completion of transition flight for Midnight eVTOL unlocked $55 million funding from Stellantis, leading to 8.8% increase in book value per share.
In June, I covered Archer Aviation (ACHR) after the company secured the Part 135 Air Carrier & Operator Certificate from the Federal Aviation Administration. I explained that the certification milestone was not one with financial implications, but was one of the multiple certificates that Archer Aviation needs to set up the business the way it wants and extract value from the business....
Why Did Archer Aviation Stock Soar?