Archer Aviation (ACHR) Surges 10.8% on Rosy Prospects for Air Taxis

We recently published Wall Street Shockers: 10 Stocks on Sky High. Archer Aviation Inc. (NYSE:ACHR) is one of the top-performing companies on Thursday.

Archer Aviation saw its share prices increase by 10.84 percent on Thursday to close at $13.4 apiece, tracking the rally of its counterpart Joby Aviation Inc. (NYSE:JOBY) following the latter’s announcement that it would ramp up its production plans at one of its facilities.

The move boosted investor sentiment on expectations that Archer Aviation Inc. (NYSE:ACHR) will either follow suit, with the sector already earning the backing of President Donald Trump through an executive order last year that would support the expansion of the industry in the US.

Both Archer Aviation Inc. (NYSE:ACHR) and Joby Aviation Inc. (NYSE:JOBY) shares marked Thursday the fourth straight day of gains.

In other news, Archer Aviation Inc. (NYSE:ACHR) CFO Mark Mesler officially stepped down from his role last July 7, following a period of medical leave since September 2024.

Priya Gupta, who served as the company’s acting CFO, will continue to serve in her same capacity.

While we acknowledge the potential of ACHR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.