On Monday, Archer Aviation (NYSE: ACHR) stock fell to a new 52-week low.
It has declined by nearly 40% since the start of the year, and it’s now down close to 70% from its high of $14.62
It was a hot buy a few years ago, but the excitement around the electric vertical take-off and landing (eVTOL) stock has cooled off significantly. However, for long-term investors, could this prove to be a blessing in disguise? Could now be an opportune time to buy low on Archer and just hang on for the long haul?
The eVTOL market holds a lot of promise Air taxis have the potential to revolutionize the way people commute and travel on a day-to-day basis. That’s the hope, anyway. And analysts at Grand View Research believe that by the end of the decade, the global eVTOL aircraft market could be worth around $28.6 billion.