Archer Aviation’s stock has fallen more than 70% from its all-time high of $17.14 in February 2021, now trading below $5. The company has manufactured only two test aircraft and one full-scale Midnight eVTOL, far short of earlier projections for 10 aircraft in 2024 and 250 in 2025. Despite this, its indicative backlog reached $6 billion at the end of 2025 with pending orders for roughly 1,200 aircraft, and it expects to eventually produce 650 aircraft annually with partner Stellantis. Analysts forecast revenue rising from $9.5 million in 2026 to $428.4 million in 2028, giving it a market cap of $3.6 billion, or 7 times 2028 sales, compared to Joby Aviation’s $8.5 billion market cap at 19 times sales. The article suggests waiting for FAA certification rather than selling now.
Archer Aviation Inc
Joby Aviation
Stellantis NV
United Airlines Holdings Inc
Uber Technologies Inc