Archer Aviation Investors Just Got Some Bullish News

Skyrocketing more than 228% in 2023, Archer Aviation (NYSE: ACHR) gave investors a lot to be happy about last year. In 2024? Not so much. Shares of the upstart air taxi stock have been in a nosedive for the better part of 2024, plummeting about 50% year to date.But that's not to say that there isn't positive news regarding the company's operations. In early September, Archer Aviation, a developer of electric vertical take-off and landing (eVTOL) aircraft, announced an auspicious development regarding its test flights -- news that investors should certainly find encouraging with regard to the company's growth prospects.In early September, Archer announced that it had completed 402 test flights so far in 2024 in pursuit of its type certification. That's a surprising development, considering the company had targeted completing 400 test flights by the end of the year, so the company is well ahead of schedule. Speaking to the company's achievement in accomplishing this feat, Adam Goldstein, Archer's CEO and founder, said, "When we first set our goal for 400 flights this year it was viewed as aggressive, but here we are in August already knocking it out. I'm proud of the Archer flight test team and the supporting groups that made it happen."Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool