Why BlackRock Just Took an 8.1% Stake in Archer Aviation Stock

Since debuting on the New York Stock Exchange in September 2021, shares of electric vertical takeoff and landing (eVTOL) stock Archer Aviation (NYSE: ACHR) have plummeted 26%. For most of its trading history, Archer has been a spectacle of retail investor enthusiasm. These dynamics are swiftly changing, though. According to a recent 13G filing from BlackRock (NYSE: BLK), the world's largest asset manager just increased its ownership stake in Archer to 8.1%. Let's dig into why BlackRock recently bought mo ...