On Monday, the stocks of Archer Aviation (ACHR) experienced a decrease, ending the day with a loss of 10.9%. This decline occurred while the S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) both saw small increases.
The court has given approval for a legal case against an eVTOL aircraft developer to proceed. Meanwhile, Stellantis, one of Archer’s main investors, has released disappointing early figures for their upcoming quarter.
Archer must face a shareholder suit
When Archer initiated its public debut, it chose a Special Purpose Acquisition Company (SPAC) for this purpose. Shareholders of the company have filed a lawsuit, claiming that Archer, Ken Moelis (the investor), and other key figures in the SPAC merger deceptively overvalued shares and misguided shareholders about the progress of the company in developing its aircraft.
On Monday, the Delaware Chancery Court permitted the case to proceed, meaning that Archer is required to answer the accusations levied against them now.
Stellantis is in hot water
Automotive titan Stellantis, one of Archer’s primary supporters, has disclosed tentative figures before its forthcoming financial report. The corporation anticipates a loss amounting to approximately $2.68 billion for the first half of the year. Furthermore, Stellantis continues to withhold any predictions about future performance, attributing this decision to the unpredictable nature of tariffs.
Investor anxiety spiked when the disappointing figures suggested that the company may be losing focus on Archer, as they strive to reduce expenses.
As an avid space enthusiast, I find the cosmos utterly captivating. However, when it comes to the race to market with innovative air mobility solutions, I’m firmly convinced that Joby Aviation holds the upper hand. The strategic partnership Joby has forged with Toyota, a brand synonymous with quality, dependability, and efficiency, gives them a significant edge in my book.
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2025-07-22 00:21