Archer Aviation Stock Plunged 43% in the First Half of 2024; Here's How It Could Straighten Up and Fly Right in the Second Half of the Year

Core Viewpoint - Archer Aviation's stock has experienced significant volatility, soaring 228% in 2023 but plummeting 43% in the first half of 2024, contrasting with the S&P 500's 14% increase during the same period. Despite this decline, the company has made positive strides in its development and remains on track for future growth [1][2][7]. Group 1: Stock Performance - Archer Aviation's stock rose 228% in 2023 but fell 43% in the first half of 2024 [1]. - The decline in stock price is attributed to profit-taking by investors rather than any negative company news [2]. Group 2: Positive Developments - Archer has received ongoing support from manufacturing partner Stellantis, including a recent $55 million investment to aid in its pre-revenue phase [3]. - The company is making progress toward obtaining FAA certifications for its Midnight eVTOL aircraft [3]. Group 3: Future Catalysts - Archer aims to commence commercial operations in 2025, with over 100 test flights completed in Q1 2024 and a target of 400 test flights by year-end [4]. - Receiving FAA Type Certification for the Midnight aircraft is crucial, as it demonstrates airworthiness and compliance with safety standards [5]. - Archer's order book is valued at up to $3.5 billion, including a deal with United Airlines worth up to $1.5 billion, which could further boost investor confidence if additional deals are announced [6].