Archer Aviation (NYSE: ACHR), a developer of electric vertical takeoff and landing (eVTOL) aircraft, went public through a merger with a special purpose acquisition company (SPAC) on Sept. 17, 2021.
Its stock opened at $9.90 per share, but it now trades at about $6
Archer’s stock slumped after it missed its own production targets and posted steep losses. It’s only manufactured two eVTOLs so far, compared to its original targets of producing ten eVTOLs in 2024 and 250 eVTOLs in 2025. In 2025, it generated less than $1 million in revenue (from agreements and small milestone payments) but posted a net loss of $618 million.
That seems like a bleak situation for a company with a market cap of $4.85 billion. But if Archer overcomes its growing pains, it might generate massive gains for its patient long-term investors. Why does Archer have a lot of upside?