Archer Aviation Inc. (ACHR) in Palo Alto, Calif., is an aerospace company that is focused on designing and developing electric vertical takeoff and landing aircraft in urban air mobility networks. Its product, named Maker, is a full-scale electric aircraft capable of traveling at speeds of up to 150 miles per hour. However, ACHR’s stock has declined 59.4% in price over the past nine months and 60.6% over the past year to close the last trading session at $4.02. In addition, it is currently trading 62.5% below its 52-week high of $10.72, which it hit on June 9, 2021.
The world is moving toward a sustainable aviation future with the introduction of electric aircraft. Many companies and startups are vying to grab a piece of the pie in the highly lucrative emission-free commercial aircraft industry.
