Archer Aviation's stock is experiencing a significant surge today, driven by a series of positive developments. The company has secured a military contract, which is expected to bolster its revenue and market position. Additionally, a CEO-backed buyback initiative has been announced, signaling confidence in the company's future prospects. Archer Aviation's strong financials and the establishment of a new manufacturing facility further contribute to the bullish sentiment surrounding the stock.
As of 11:30 am on Friday, Archer Aviation's stock is trading at $11.26, marking a 17.70% increase from its previous close of $9.57. The stock opened at $9.65, representing a 16.73% rise from the opening price.