Archer Aviation: Is the Flight Path Losing Altitude?

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Right. So, Archer Aviation (ACHR +0.31%). It’s been…a ride. Honestly, a bit like trying to parallel park a spaceship. I first looked at it back in 2021, when it floated onto the market via a SPAC. It felt futuristic, didn’t it? All sleek lines and promises of zipping above traffic. Peak optimism hit in October 2025, a high of $14.62. Then, well, gravity happened. It’s down about 40% since then. Forty percent! That’s a significant chunk of potential brunch money, let’s be honest.

The problem, as always, is timing. And certifications. The FAA is… thorough. Let’s just say that. And then there’s Joby Aviation (JOBY +1.47%). They seem to be…further along. It’s like being in a race where someone else has already started the warm-up laps. And Joby has Stellantis backing them. Stellantis! That’s like having a really rich, supportive aunt. Archer, meanwhile, is…slightly more on its own.

Units of Cryptocurrency Lost: 12. Hours Spent Watching Charts: 9. Number of Panicked Texts to Friends: 24. It’s a vicious cycle, isn’t it? You tell yourself you’re a sophisticated investor, then you find yourself frantically refreshing stock prices at 3 am.

Is Archer Falling Behind?

In the robotaxi game, it feels like Joby is already hailing a cab while Archer is still looking for the ride-sharing app. And that Stellantis connection? Huge. It’s not just about the money, it’s about the resources, the expertise…the general feeling that someone has your back. Archer’s valuation has been…descending, shall we say, while Joby’s has been soaring. It’s disheartening. Truly.

Joby’s up 53% in the last year. Archer? Down 18%. Ouch. Though, to be fair, Archer has managed an 8% rise year-to-date in 2026, beating Joby’s 1.3%. Which is…something. Apparently, there’s interest in using Archer’s aircraft for defense purposes. Which is…unexpected. Perhaps the military wants to avoid traffic too? It’s a thought.

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Archer’s market cap is currently around $5.3 billion, and they haven’t actually made any real revenue yet. That’s…a bold strategy. It’s a bit like building a hotel and then hoping people will come. It’s risky, definitely. The whole consumer flight thing in the U.S. market seems to be…less certain than it used to be. Which is putting it mildly.

They posted a net loss of $129 million last quarter. And manufacturing is…slow. When they finally ramp up production of the Midnight eVTOLs and other craft, losses are almost guaranteed to surge. Which means more debt, or selling more stock, and diluting existing shareholders. It’s a familiar pattern, isn’t it? The cycle of hope and…financial reality.

Archer still has a possible path to success in the air taxi market, but it’s unproven. And Joby is probably ahead. So, the bullish catalysts for the stock in 2026 seem to be leaning towards defense applications. Which is…a pivot. A slightly desperate pivot, perhaps, but a pivot nonetheless. I’m not saying it’s a bad thing. Just…unexpected. I mean, who knew flying taxis might end up being more useful for soldiers than commuters?

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2026-01-28 03:32