Why Archer Aviation Stock Plummeted This Week

Archer Aviation (NYSE: ACHR) stock slipped lower in this week's trading. The flying electric vehicle (EV) company's share price ended the period down 14.3% from last Friday's market close, according to data from S&P Global Market Intelligence.

Meanwhile, the S 500 index fell 2.1%, and the more growth-weighted Nasdaq Composite index retreated roughly 3.4% across the stretch. Uneven performance in earnings season and new economic data caused many growth stocks to get hit hard this week, and Archer was an outsized participant in the pullback. But there was actually some good news for the company.

Archer stock lost altitude this week amid a variety of bearish catalysts. High-profile earnings reports from companies including Amazon, Microsoft, and Intel didn't thrill Wall Street, and the results have had a spillover effect on the broader market. Investors are also weighing some recent warning signs for the U.S. economy.

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Source Fool.com