Why Archer Aviation Skyrocketed 24.6% Last Month
Archer recently made a deal that's poised to have a transformative impact on the company.
Overview
Archer Aviation (NYSE: ACHR) stock had a big month in August. The company's share price gained 24.6% across the stretch, according to data from S&P Global Market Intelligence. The S&P 500 gained 2.6% in the month, and the Nasdaq Composite rose 3.9%.
In addition to the bullish backdrop for the broader market, Acher's valuation got a big boost following news that the company had entered into a deal to purchase three subsidiaries from Boeing. Despite the big pop, Archer stock is still down roughly 24% year to date.
Image source: Getty Images.
Details
Source
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.