Archer Aviation stock: why Hawthorne Airport deal isn't sitting well with investors?

Core Viewpoint - Archer Aviation Inc (NYSE: ACHR) experienced a significant decline of approximately 20% following the announcement of a $126 million acquisition of Hawthorne Airport, aimed at establishing a foundation for its air taxi operations and AI testing [1] Company Summary - The acquisition of Hawthorne Airport for $126 million is a strategic move by Archer Aviation to enhance its air taxi operations [1] - The investment is intended to support the company's AI testing initiatives, which are crucial for the development of its air mobility solutions [1] Industry Summary - The air taxi industry is witnessing increased consolidation as companies seek to secure operational bases and testing facilities to advance their technologies [1] - The acquisition reflects a broader trend in the aviation sector towards integrating AI and innovative transportation solutions [1]