These 10 Firms Were Last Week’s Biggest Losers

6. Archer Aviation Inc. (NYSE:ACHR)

Archer Aviation (ACHR) saw its share prices tumble by 7.24 percent over the past five trading days, ending last week at $8.97 apiece versus the $9.67 week-on-week after earning a downgraded rating from JP Morgan.

In a report released on Friday, JP Morgan downgraded Archer Aviation’s rating from an “overweight” rating to “neutral,” reflecting a more conservative outlook, noting that the market was already pricing in Archer Aviation’s achievements that have yet to materialize.

According to JPMorgan, Archer Aviation’s (ACHR) current trading levels indicate that it has already obtained full certification for its electric vertical takeoff and landing (eVTOL) aircraft, a milestone that it has yet to achieve.

The certification was crucial to the company’s operational success of its air taxi services.