10 Stocks Skyrocketing Today

6. Archer Aviation Inc. (NYSE:ACHR)

Archer Aviation rallied for a second straight day on Wednesday, adding 9.84 percent to finish at $7.48 apiece as investors bought up on the nearing launch of its flying taxis.

At the JP Morgan Industrials Conference on Wednesday, ACHR reaffirmed its commitment to transforming aviation into an electric, affordable, and accessible mode of transportation through the launch of its first revenue-generating Midnight aircraft this year.

According to the company, it launched a comprehensive “Launch Edition” commercialization program for its Midnight aircraft to establish a pragmatic and repeatable playbook to deploy Midnight commercially in dozens of early adopter markets. It said that Abu Dhabi Aviation would be its first customer for Midnight.

Looking ahead, ACHR said it would begin producing 10 Midnight aircraft at its ARC facility in Covington, Georgia, this year to support its ongoing certification-related testing programs and deployments with key partners.

It also plans to ramp up the factory’s capacity to a range of 650 to 2,000 aircraft annually.