Archer Aviation Stock Sinks After Firm Doubles Available Shares, Changes Bylaws
Archer Aviation (ACHR) Investopedia·2024-12-30 16:41Key TakeawaysArcher Aviation shareholders agreed to double the amount of common stock available on the market.The United Airlines-backed maker of electric vertical takeoff and landing (eVTOL) aircraft also issued shares to carmaker Stellantis following a previous agreement.The company also changed board and ownership requirements to align with federal U.S. citizenship regulations. Archer Aviation (ACHR) shares sank 11% Monday when the manufacturer of electric vertical takeoff and landing (eVTOL) aircraft ba ...