- According to LSEG statistics, the automaker’s open market acquisition of 8.3 million shares of Archer’s stock in March made Stellantis the company’s biggest stakeholder in the producer of electric vertical takeoff and landing (eVTOL) vehicles. This investment comes after that transaction.
- Through a mix of financial arrangements and open market stock purchases, Stellantis had also contributed $110 million to Archer in the previous year.
- After completing a transition flight last month, Archer’s “Midnight” eVTOL reached a significant milestone.
- An aircraft that takes off vertically, like a helicopter, accelerates, switches from thrust-borne to wing-borne flight, decelerates, and then lands vertically is said to be performing a transition flight.
- Early U.S. trading saw a 9% increase in Archer’s shares. But this year, the stock has lost 44.3% of its value.
Source:
tradingview
