Archer, a 24/7 Market News Favorite, Secures $215M Investment and is on Track to Complete First Ever eVTOL Aircraft Customer Delivery

August 11, 2023

(24/7 MARKET NEWS) – 24/7 Market News readers know that we’ve been hyper focused on the VTOL space since very early May, including Archer Aviation Inc. (NASDAQ:ACHR), when it was about $2. Archer reported, after yesterday’s market close, its operating and financial results, for the second quarter ended June 30, 2023, and it made a series of announcements that reinforce its path to FAA certification and commercial operations in 2025. Archer has landed a $215 million equity investment from industry leaders Stellantis, Boeing and United Airlines, as well as other financial institutions, including ARK Invest, increasing the company’s total funding to over $1.1 billion to date, received FAA approval to begin flying its Midnight eVTOL aircraft, and reached an agreement with Boeing and Wisk to enter into an autonomous flight collaboration and settle litigation between the companies. Additionally, Archer announced that it is on track to complete what it believes will be the first ever eVTOL aircraft delivery to a customer as part of its recently announced contracts with the Department of Defense (DoD).

Archer Aviation is trading at $6.80, up $0.97 (+16.63%), on 1.95M premarket shares traded.

Its 52-week range is $1.62 to $7.10. It should trade at new 52-week highs today and if its trading volume can strengthen, it could begin to challenge its late 2021 trading levels.

Others that may follow this move higher include, Joby (NASDAQ:JOBY), Lilium (NASDAQ:LILM), and Inpixon (NASDAQ:INPX).

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