Why Archer Aviation Stock Is Soaring Today
Archer Aviation (NYSE: ACHR) stock is making big gains Tuesday. The company's share price was up 8.2% as of 3:30 p.m. ET, according to data from S&P Global Market Intelligence.
Archer Aviation stock is surging following news that Stellantis had made another investment in the company. The new, $55 million investment from Stellantis comes on the heels of Archer's latest successful flight test for its Midnight electric-vertical-take-off-and-landing (eVTOL) aircraft.
Archer Aviation published a press release this morning detailing the latest round of investment from Stellantis -- the auto company responsible for brands including Dodge, Chrysler, Fiat, Jeep, and Maserati. The $55 million investment follows Stellantis' purchase of 8.3 million Archer shares in March and a $110 million stock and strategic-funding deal made in 2023.
Source Fool.com
