Why Archer Aviation Stock Was Grounded in August [Yahoo! Finance]
Archer Aviation Inc. Class A (ACHR)
Company Research
Source: Yahoo! Finance
Shares of Archer lost 18.5% in August, according to data provided by S&P Global Market Intelligence , as investors adjusted to a larger share count post-offering. Focused on the long trip ahead Archer is one of several companies working to commercialize electric vertical takeoff and landing (eVTOL) aircraft. The company's Midnight aircraft could one day ferry passengers over crowded rush-hour streets or bring passengers from the outer suburbs to airports, but for now the design is a work in progress. In August, Archer announced a $107 million loss on little revenue as it works to build out its manufacturing footprint ahead of a planned 2025 launch. It also announced a new $175 million private placement from existing investors including Stellantis and United Airlines Holdings The funding is necessary, but it involved the sale of 49.3 million shares of Archer stock. The deal makes each existing share worth a little less, and these offerings usually cause the stock to fall at le
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News
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ACHR
Sec Filings
- 9/9/24 - Form 8-K
- 8/29/24 - Form EFFECT
- 8/28/24 - Form 424B3
- ACHR's page on the SEC website