Archer Aviation Stock Hits a New 52-Week Low. Is Now the Time to Buy?
The company hopes to obtain approval for its air taxi soon, and that would certainly be a game changer for the stock.
Overview
On Monday, Archer Aviation (NYSE: ACHR) stock fell to a new 52-week low. It has declined by nearly 40% since the start of the year, and it's now down close to 70% from its high of $14.62. It was a hot buy a few years ago, but the excitement around the electric vertical take-off and landing (eVTOL) stock has cooled off significantly.
However, for long-term investors, could this prove to be a blessing in disguise? Could now be an opportune time to buy low on Archer and just hang on for the long haul?
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.