Should You Buy Archer Aviation While It's Under $8?

Core Viewpoint - Archer Aviation's stock has dropped approximately 22% over the past year, currently trading under $8, raising questions about whether this represents a buying opportunity or a signal to wait [1][3]. Company Overview - Archer Aviation is focused on developing electric vertical takeoff and landing (eVTOL) aircraft, specifically the "Midnight" model, aimed at providing air taxi services to alleviate urban traffic congestion [1][2]. - The company has a market capitalization of $6.0 billion, with a current stock price of $8.13, and a trading range over the past year between $5.48 and $14.62 [3]. Recent Developments - Archer has been actively pursuing partnerships with cities in California, Georgia, Florida, New York, and Texas to propose air taxi operations [5]. - The company has applied to the White House's eVTOL Integration Pilot Program (eIPP), which aims to integrate eVTOLs into the national airspace system, with selections expected by 2026 [6]. - Archer has been designated as the air taxi provider for the 2028 Summer Olympics in Los Angeles and is in discussions to establish air taxi services in Saudi Arabia [6]. Current Challenges - Despite its ambitious plans, Archer remains pre-revenue and lacks FAA certification for commercial flight operations, indicating significant challenges ahead [7].