Is This Cathie Wood EV Stock Flying Under The Radar?
When it comes to electric vehicles (EVs), names such as Tesla, Rivian, or Nio probably come to mind first. But did you know that EVs are making their way to the skies as well? While it might sound like something out of a science fiction novel, several companies are competing to develop small electric vertical takeoff and landing (eVTOL) aircraft.
One company leading that charge is Archer Aviation (NYSE: ACHR). It has made notable progress throughout 2023 as it works toward commercializing its air taxis, and the stock is a Cathie Wood favorite. But does Archer deserve a spot in your portfolio?
The idea of eVTOL taxis admittedly sounds a little far-fetched, at first. Yet the concept is so intriguing that I was compelled to dig further.
Source Fool.com
