FAA certification
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Archer Stock Plunges 8% Following Share Offering and LA Airport Land Deal
Archer Aviation’s shares fell 8% after announcing a $650 million stock offering to fund the acquisition of Hawthorne Airport for its air taxi operations, despite beating Q3 loss estimates. The company reported a $129.9 million net loss versus the expected $178.6 million. The stock offering dilutes shares but supports Archer’s expansion plans, including becoming the official air taxi provider for the 2028 LA Olympics. Archer, along with competitors like Joby Aviation, is pursuing FAA certification and expanding globally, with significant operations in the UAE.
