Should You Buy Archer Aviation Stock While It's Below $9?

Archer Aviation (NYSE: ACHR) has disappointed a lot of investors since its public debut three years ago. The developer of electric vertical take-off and landing (eVTOL) aircraft went public by merging with a special purpose acquisition company (SPAC), and it started trading at $9.90 and soared to a record high of $17.14 in February 2021. But today, Archer's stock trades at about $4.It crashed and burned as it missed its own pre-merger expectations, racked up steep losses, and issued a lot more shares to raise fresh cash. Rising interest rates also rattled investors and drove them away from its speculative pre-revenue business. However, analysts still have an average price target of $9.06 for Archer's beaten-down stock. Should investors buy it today as it languishes more than 50% below that price?Image source: Archer Aviation.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool