Archer Aviation Inc (ACHR)

Archer Aviation Inc Stock (ACHR) dropped by 5.51% from $5.26 to $4.97 in the trading on Friday November 10, 2023. The reason why ACHR stock down today is due to its third-quarter results.

• Archer reported a net loss of $51.6 million, total operating expenses of $46.2 million and forecast that it would spend between $100 - $110 million in the fourth quarter. The company has no revenue yet.
• Archer stressed the establishment of a debt facility of up to $65 million to cover the majority of the costs for its high-volume manufacturing facility in Georgia.

Shares of Archer Aviation (ACHR) were down by as much as 11.01% on Wednesday when a new government plan raised questions about the timetable for air mobility start-ups to start flying paying customers. Investors are worried and markets try to decipher what the news means for the company.

https://www.fool.com/investing/2023/07/19/why-archer-aviation-and-joby-aviation-stocks-are-d/

ACHR's stock fell 11.13% because Austin Moeller from Canaccord Genuity maintained a Buy rating on Archer Aviation, with a price target of $9.00. The company also has an analyst consensus of Strong Buy, with a price target consensus of $8.50.

https://www.tipranks.com/news/blurbs/analysts-opinions-are-mixed-on-these-technology-stocks-archer-aviation-achr-and-sofi-technologies-sofi