Archer Aviation (ACHR) Faces Scrutiny, But Can FAA Milestones Change the Multibagger Story?

Archer Aviation Inc. (NYSE:ACHR) is one of the best multibagger stocks to invest in right now. With returns already exceeding 150% in the last year, the company is often cited as a potential multibagger in the emerging urban air mobility market. The company is developing eVTOL (electric vertical takeoff and landing) aircraft designed for urban air taxi services.

Six of its flagship Midnight aircraft are in production, with three currently in final assembly. Archer raised $850 million in funding in Q2 2025, bringing its cash reserves to a solid $1.7 billion.

On August 27, short seller Grizzly Research released a report on Archer Aviation Inc. (NYSE:ACHR), drawing parallels to other troubled start-ups and questioning the credibility of its $6 billion order book, the design of its Midnight aircraft, and the pace of production ramp-up at its Georgia facility. The note also raised doubts about the durability of some order commitments and highlighted concerns around recent marketing demonstrations.

Archer Aviation Inc. (NYSE:ACHR) has not yet commented, and Wall Street analysts have not released updated views, while the stock showed little immediate reaction.

Earlier, on August 13, Canaccord Genuity’s Austin Moeller maintained a Buy rating with a $13 price target after Q2 results. While acknowledging a sizable adjusted EBITDA loss, Moeller pointed to progress in scaling Midnight aircraft production across California and Georgia, and highlighted Archer Aviation Inc.’s (NYSE:ACHR) strengthened balance sheet following the capital raise. He also noted the company’s advancement in Federal Aviation Administration (FAA) certification, where it is among a select group in the final phase, as a critical step toward commercialization.

These differing perspectives underline the debate surrounding Archer Aviation Inc. (NYSE:ACHR). The short-seller’s report highlights questions around execution and order strength, while analyst views point to Archer’s funding base, progress with certification, and potential growth ahead. There could be volatility in the near term, but with substantial upside if the company is able to deliver on its key operational goals.

Archer Aviation Inc. (NYSE:ACHR) is a U.S.-based aerospace company developing electric vertical take-off and landing (eVTOL) aircraft for urban air mobility.

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