Archer Aviation, Joby Shares Are Rising Monday: What's Driving The Momentum?

Shares of electric vertical take-off and landing (eVTOL) companies Archer Aviation Inc ACHR and Joby Aviation Inc JOBY are rising Monday, extending gains from Friday following executive orders aimed at boosting electric air taxis and supersonic commercial aircraft.

What To Know: President Donald Trump on Friday signed multiple executive orders focused on “Unleashing American Drone Dominance.” The orders aim to strengthen U.S. defenses against drone threats and boost electric air taxi aircraft.

“Drones are already transforming industries from logistics and infrastructure inspection to precision agriculture, emergency response, and public safety. Emerging technologies such as electric Vertical Takeoff and Landing (eVTOL) aircraft promise to modernize methods for cargo delivery, passenger transport, and other advanced air mobility capabilities,” the executive order states.

The Trump administration will establish a federal task force focused on controlling U.S. airspace. The orders also call for the establishing of a pilot program to increase adoption of eVTOL technology. The administration said it aims to “accelerate the deployment of safe and lawful eVTOL operations” in the U.S.

Joby shares traded higher last week after the company announced an agreement to explore distribution and service partnerships in Saudi Arabia with Abdul Latif Jameel. The collaboration is focused on enabling local air taxi services and building support infrastructure and could lead to the delivery of up to 200 aircraft and related services valued at approximately $1 billion over the coming years.

Archer shares have also seen increased attention in recent weeks after the company announced plans to deliver its first Midnight Edition aircraft to the UAE in the coming months. Archer said last week that it started the next phase of Midnight’s flight test program showcasing piloted flight.

“Midnight’s VTOL and CTOL capabilities are a strong differentiator for us as they are critical for delivering an aircraft that can integrate into a wide range of operational scenarios while also providing enhanced safety,” said Adam Goldstein, founder and CEO of Archer.

ACHR, JOBY Price Action: Archer shares were up 9.42% at $11.16 and Joby shares were up 10.20% at $8.95 at the time of publication Monday, according to Benzinga Pro.

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Photo: courtesy of Joby Aviation.