Archer Aviation (ACHR) shares are experiencing a significant surge today, driven by reports that the U.S. government is considering policy changes to restrict or ban Chinese drones. This potential shift in policy is seen as a favorable development for U.S.-based companies like Archer, which specializes in electric vertical takeoff and landing (eVTOL) aircraft. The news has sparked investor optimism, as it could reduce competition from Chinese manufacturers in the unmanned aerial systems sector, providing a potential boost to domestic players.
Additionally, Archer Aviation has been gaining traction as a meme stock, with increased interest from retail investors. The stock's upward momentum has been further fueled by higher-than-normal call volume, indicating bullish sentiment among traders. Despite the company's lack of revenue and ongoing development stage, the market's enthusiasm for Archer's potential in the eVTOL space is evident.
Archer Aviation's stock is currently trading at $11.34, marking an 18.44% increase from its previous close of $9.57. The stock opened at $9.65 and has seen a 17.46% rise from the opening price.