Archer Aviation (ACHR) Faces Scrutiny, But Can FAA Milestones Change the Multibagger Story?

Core Viewpoint - Archer Aviation Inc. is recognized as a promising multibagger stock in the urban air mobility sector, with returns exceeding 150% over the past year, driven by its development of eVTOL aircraft for urban air taxi services [1] Funding and Production - The company has six flagship Midnight aircraft in production, with three in final assembly, and raised $850 million in funding in Q2 2025, increasing its cash reserves to $1.7 billion [2] Market Scrutiny - A report from short seller Grizzly Research raised concerns about Archer's $6 billion order book, the design of its Midnight aircraft, and production pace at its Georgia facility, questioning the durability of order commitments and recent marketing demonstrations [3] Analyst Perspectives - Canaccord Genuity maintained a Buy rating with a $13 price target after Q2 results, acknowledging a significant adjusted EBITDA loss but highlighting progress in scaling production and advancements in FAA certification, which is crucial for commercialization [5] Diverging Opinions - The contrasting views on Archer Aviation reflect a debate on execution and order strength versus funding stability and certification progress, indicating potential volatility but also substantial upside if operational goals are met [6]