Could Archer Aviation Stock Be a 10X Investment?
The company's Midnight aircraft could begin transporting passengers in the near future, and when that happens, the stock could soar.
Overview
Investing in a business while it's still in its early growth stages can be risky, but it can also result in significant gains if it turns out to be successful. Companies involved in the development of electric vertical take-off and landing (eVTOL) aircraft are prime examples of that. Flying air taxis represent an intriguing growth opportunity for investors, but regulators in the U.S. haven't approved any just yet.
Archer Aviation (NYSE:ACHR) is an eVTOL company that hopes to be a leader in the industry and has been working to obtain certification for its Midnight aircraft. Its stock has been falling sharply in value this year, and currently it has a market cap of around $3.8 billion. Could buying the stock today position investors for potential 10x returns in the future?
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Originally published at www.fool.com.