Archer Aviation's stock is experiencing an uptick today, driven by strategic developments that have captured investor attention. The company recently announced the launch of Archer Defense, a new division focused on developing military-grade VTOL aircraft. This move marks a significant expansion beyond its commercial eVTOL market, positioning Archer to tap into lucrative defense contracts. The partnership with Anduril Industries, a leader in defense technology, further strengthens Archer's capabilities in artificial intelligence and autonomous systems, enhancing its prospects in securing Department of Defense contracts. Additionally, the company's CEO has expressed confidence in Archer's valuation by advocating for aggressive stock buyback strategies, signaling a robust financial position bolstered by a recent $430 million capital raise.
Archer Aviation (ACHR) shares are currently trading at $10.14, reflecting a 5.96% increase from the previous close of $9.57 and a 2.22% rise from the opening price of $9.92.