The race for air taxis is taking off. These machines are technically called electric vertical take-off and landing (eVTOL) aircraft.
The flying car market is expected to grow from $0.42 billion in 2022 to $5.28 billion by 2030 at a compounded annual growth rate (CAGR) of 43.7%. Key drivers include rising purchasing power, changing lifestyles, urban traffic and population growth.
Meme stocks – you know them as social-media-inspired securities that tend to be speculative. Generally speaking, it's difficult to suggest otherwise.
Electric vertical take-off and landing stocks have performed poorly over the past few years. With the industry poised to enter the commercial phase of its lifecycle soon, this situation may be about to change in dramatic fashion.
Archer Aviation Inc. (ACHR) reachead $5.05 at the closing of the latest trading day, reflecting no change compared to its last close.
Flying car stocks have been in the limelight in the last 12 to 24 months. During this time horizon, there has been sharp bullish and bearish moves.
Speculative stocks will continue to be relevant for risk-taking investors looking for swift gains. Naturally, seasoned investors lean towards more tried-and-tested investment strategies, leaving speculative stocks for those willing to stomach the risk.
Flying car stocks are a very interesting and still nascent sector with the potential to 10X an investor's capital. 2023 was a year that was very favorable to the upstart sector, the excitement around the potential of flying cars, otherwise known as eVTOLs, was strong and American manufacturers were particularly successful during that period, more than doubling in some cases.
Archer Aviation (NYSE: ACHR ) stock is up over 10% today after inking a promising new deal with Southwest Airlines (NYSE: LUV ). The two have signed a memorandum of understanding (MOU) to develop operational plans for electric air taxi networks using Archer's eVTOL aircraft at airports in California where Southwest functions.
Archer and Southwest plan to explore ways to ferry Southwest customers from their house to the airport. The development demonstrates the potential for eVTOL aircraft, but won't speed the lengthy regulatory process.
Southwest Airlines and Archer Aviation said Friday they have agreed to develop operational plans for electric air taxi networks at California airports where the Texas-based airline operates.
I would never recommend that investors go overboard on high-risk stocks. At the same time, it's important to remember that millionaires are not made by investing in low-beta stocks.