Archer Aviation stock soars on $55M Stellantis investment

Shares of Archer Aviation (ACHR) are soaring on the news that Stellantis (STLA) is investing $55 million more into the electric aviation company.

Josh Lipton and Seana Smith report more on the investment and Archer Aviation's outlook.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This post was written by Melanie Riehl

Video transcript

Let's take a look at Archer Aviation, the stock moving sky high today on news that STIs is investing 55 million or more into the EV toll maker.

Now last month, Archer Ceo Adam Goldstein spoke to Yahoo finance about increasing investor interest.

It's not just Archer that's out there building that we've seen really um investment come from all over the place.

Um globally as this has the potential to be a really large industry and really help, you know, be transformative in the way that people are traveling.

So the excitement that we're seeing today in this investment that we're seeing from ST is coming on the back of a successful transition flight here for Archer.

It's being hailed as a milestone here for the company.

So again, the stock down pretty significantly since the start of the year, but we are seeing some optimism play out on with more enthusiasm.