NYSE:ACHR - Post Discussion
Post by
zack50 on Nov 24, 2024 1:37pm
ACHR… making significant strides in eVTOL.
* During Q3/24, Millennium Management purchased over 3.2 million shares of Archer Aviation, valued at approximately $9.8 million, making it the 11th-largest holder of the stock.
* Archer is one of two companies aiming to launch air taxis in select U.S. cities to alleviate traffic congestion. Their Midnight electric aircraft can perform consecutive 20 to 50-mile flights with minimal charge time and can transport up to four passengers plus a pilot. * Archer has achieved significant regulatory milestones, including receiving the final airworthiness criteria from the FAA and conducting 400 test flights ahead of schedule.
* In August, Archer announced plans for an air taxi network in Los Angeles, potentially replacing one to two-hour drives with 10 to 20-minute flights.
* Archer has also forged a deal with Southwest Airlines to develop an air taxi network.
* Wall Street analysts have an average price target of $9.38 for Archer's stock, implying a 55% upside from Friday’s close of $6.04. The most bullish analyst has a $12.50 price target, suggesting a 107% upside.
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