Archer Aviation Inc. ACHR shares are moving higher Monday. The stock appears to be moving on continued upward momentum. Here's a look at what's going on.
What To Know:
Archer Aviation has recently announced positive business updates and investments, and shares of ACHR are up 30% in the last 30 days. On Aug. 11, Archer Aviation announced that its Midnight eVTOL aircraft had received its Special Airworthiness Certificate from the Federal Aviation Administration (FAA) and will begin flight test operations.
Archer also announced a $215 million equity investment and collaboration with Stellantis NV STLA, Boeing Co. BA and United Airlines Holdings UAL.
Also last week, Cathie Wood's ARKK Innovation ETF ARKK, purchased more than $20 million worth of ACHR shares.
Shares of ACHR are moving higher on heavy trading volume Monday with more than xx shares already traded in the session. According to data from Benzinga Pro, the stock's 100-day average volume is 7.25 million shares.
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ACHR Price Action: According to Benzinga Pro, Archer Aviation shares are up over 14.8% at $7.07 at the time of publication.
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