The flying car industry is ready to transform personal and urban mobility. This forms the backdrop of my list of flying car stocks to buy, that I think could make your summer unforgettable.
Los Angeles is known for many things, including heavy traffic. But one company is taking steps to address this long-standing problem with its flying car futuristic technology.
Air mobility specialist Archer Aviation (NYSE: ACHR ) saw its shares fall sharply, about 6%, despite a spate of positive developments. A manufacturer of electric vertical takeoff and landing (eVTOL) aircraft, Archer just came off better-than-expected results for the second quarter.
Archer, a pre-revenue company, as expected posted a loss in its most recent quarter. The company raised $175 million in additional capital from existing shareholders, causing some near-term dilution.
Archer Aviation Inc. (NYSE:ACHR ) Q2 2024 Earnings Conference Call August 8, 2024 5:00 PM ET Company Participants Eric Lentell - General Counsel Adam Goldstein - Founder and CEO Mark Mesler - CFO Tom Muniz - CTO Conference Call Participants Savi Syth - Raymond James Bill Peterson - JPMorgan Edison Yu - Deutsche Bank Austin Moeller - Canaccord Josh Sullivan - The Benchmark Company David Zazula - Barclays Operator Good afternoon. Thank you for attending today's Archer Aviation Q2 '24 Operating Financial Results Conference Call.
Archer Aviation said on Thursday it plans to launch an air mobility network in Los Angeles, with operations beginning as early as 2026.
As broad market sentiment turns negative, short sellers are striking while the iron is hot. They are upping their bearish bets on risky stocks like Archer Aviation (NYSE: ACHR ).
eVTOL stock has remained relatively subdued in the last 12 months. I see this as a lull before the storm with some of the best eVTOL companies nearing commercialization.
It is not too often that investors witness the birth of a new industry. Aviation, however, is on the cusp of transformation.
Companies operating in the electric vertical takeoff and landing (eVTOL) market are often known as flying car stocks. Whether these companies are looked at as futuristic Jetsons-like options, or the air taxis of the future of transportation, it really doesn't matter.
Archer Aviation received more investment from Stellantis and forged a partnership with Southwest Airlines. The company received state support for its manufacturing expansion in California.
JPMorgan's lead analyst on Archer Aviation recently reiterated a bullish rating on the stock. The analyst thinks the stock could climb 50% higher over the next year.