Is Archer Aviation Stock Your Ticket to Becoming a Millionaire?
Archer Aviation could change an entire industry. But can it follow through with its ambitions?
Is Archer Aviation Stock Your Ticket to Becoming a Millionaire?
Overview
Like beeswax melting from Icarus's wings, enthusiasm for Archer Aviation (NYSE: ACHR) has softened over the last six months, plunging the stock nearer and nearer to all-time lows.
As the Sun was to Icarus, many lofty goals have burned Wall Street's optimism away. FAA Type Certification for Archer's Midnight aircraft is still a year or two out, and its fleet of aircraft -- once predicted to reach the thousands by now -- can as of yet be counted on one hand. The company is burning cash, and unlike rival Joby Aviation, it still hasn't demonstrated its electric vertical takeoff and landing (eVTOL) craft in a piloted flight, only remote-controlled versions.
Details
To top it off, Cathie Wood's Ark Invest dumped about 2.2 million Archer Aviation shares last week from several of its exchange-traded funds (ETFs).
Source
Originally published at www.fool.com.
