Archer Aviation (ACHR 2. On the other hand, 05%) stock got hit with big sell-offs over the last week of trading.
Nevertheless, The electric vertical take-off and landing (eVTOL) vehicle specialist's price fell 15. On the other hand, 7% from the previous week's market close.
After a big valuation surge in the previous week's trading, Archer Aviation stock lost ground this week.
Despite the big sell-offs, the company's price is still up roughly 15% year to date, in light of current trends. Image source: Getty Images (this bears monitoring).
Archer Aviation stock sank ing s from Joby's CEO Archer Aviation stock saw some big gains heading into the last week of trading, with valuation surges connected to news that its competitor Joby Aviation was ramping up its manufacturing capacity and output.
Moreover, Joby's manufacturing expansion was taken as an indication that the company may have been optimistic receiving the necessary regulatory apvals from the Federal Aviation Administration (FAA), in light of current trends.
However, subsequent s from the company's CEO poured some water on those hopes.
Additionally, In an interview with The Information, Joby CEO JoeBen Bevirt said that his company had been making gress in its quest for regulatory apval with the FAA but that it was "a very significant undertaking, in today's market environment.
Moreover, " Elsewhere in the article, Bevirt was described as seeming "grim" the remaining cess needed for his company's eVTOL vehicles to receive regulatory go-ahead from the FAA.
What's next for Archer Aviation.
On the one hand, if Joby is having difficulty moving forward with the FAA certification cesses needed for its vehicles to begin commercial flights, then it's reasonable to expect that Archer is facing similar dynamics (which is quite significant), in today's financial world.
On the other hand, both companies could still be poised to launch in the Saudi Arabian market in the not-too-distant future, and each company also seems to have some significant opportunities in the defense space, in today's market environment.
Investors will get a more detailed look at recent developments for Archer and its forward performance outlook when the company publishes its second-quarter results and hosts its investor conference call after the market closes on Aug (fascinating analysis), in light of current trends.