Why Archer Aviation Stock Plummeted Last Month But Is Gaining in July
There wasn't much news for Archer Aviation last month. So why did the stock get crushed?
Overview
Archer Aviation (NYSE: ACHR) stock got hit with a huge pullback last month. The company's share price fell 30.5% over the period, according to data from S&P Global Market Intelligence. Meanwhile, the S&P 500 declined 1.1% in June, and the Nasdaq Composite fell 2.8%.
While there was little in the way of fresh, business-specific news driving the pullback, the stock saw a massive valuation decline as investors moved out of speculative growth stocks. As of this writing, the stock is now down roughly 47% over the last year.
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Details
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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.