We recently published an article titled Trade Tensions Weigh Heavily on 10 Stocks. In this article, we are going to take a look at where Archer Aviation Inc. (NYSE:ACHR) stands against the other stocks.
The stock market kicked off the trading week in a bloodbath, erasing last week’s gains, with all major indices posting heavy losses following President Donald Trump’s imposition of additional 10-percent tariffs on China, and the resumption of 25-percent taxes on Mexico and Canada.
The tech-heavy Nasdaq posted the biggest losses, down 2.64 percent, followed by the S&P at 1.76 percent and the Dow Jones at 1.48 percent.
According to Trump, there was no room left for Mexico and Canada, and his 25-percent tariff for the two countries “will start.” He also signed an additional 10 percent tariff on goods from China.
The overall sentiment spilled into the performance of 10 companies, which on Monday lost as high as double digits.
To come up with Monday’s top losers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.
A technician assembling an electric aircraft, highlighting the company’s manufacturing capabilities.
Archer Aviation Inc. (NYSE:ACHR)
Archer Aviation Inc. (NYSE:ACHR) fell by 11.26 percent on Monday to close at $7.88 apiece as investors resorted to profit-taking following Friday’s gains buoyed by its earlier announcement that it would deliver its first revenue-generating Midnight aircraft later 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.
In its latest earnings release, Archer Aviation Inc. (NYSE:ACHR) said its net loss widened by 17 percent last year to $536.8 million from $457.9 million in 2023, while net loss expanded by 82 percent in the fourth quarter at $198.1 million from $109.1 million in the same period a year earlier.
Looking ahead, Archer Aviation Inc. (NYSE: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.
Overall ACHR ranks 10th on our list of Monday’s top losers. While we acknowledge the potential of ACHR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ACHR but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
