Reported 1 day ago
Archer Aviation's stock has dipped below its IPO price of $10 as the company develops its electric air taxi network and faces significant cash burn, reporting a loss of $477.5 million annually with no revenue at present. While the company envisions operating air taxis in major cities soon, achieving FAA certification for its Midnight aircraft remains a key hurdle. Analysts advise caution, suggesting that the stock may not be a buy at its current market cap due to high risks and financial challenges.
Source: YAHOO