Why Archer Aviation Inc. (ACHR) Is Skyrocketing Today?

We recently published a list of 10 Stocks Skyrocketing Today. In this article, we are going to take a look at where Archer Aviation Inc. (NYSE:ACHR) stands against other stocks that are skyrocketing today.

The stock market ended mixed on Wednesday, with the Dow Jones emerging as the sole decliner, as investors digested more news of tariff threats from President Donald Trump.

The Dow dropped by 0.20 percent, while the S&P 500 and Nasdaq clocked in gains of 0.49 percent and 1.22 percent, respectively.

Meanwhile, 10 companies, predominantly those riding the AI wave, were touted as investors’ haven, clocking in gains during a cautious trading session.

In this article, we have identified the 10 strongest firms on Wednesday and detailed the reasons behind their performance.

To come up with the list, we considered only the stocks with at least $2 billion in market capitalization and $5 million in trading volume.

A technician assembling an electric aircraft, highlighting the company’s manufacturing capabilities.

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.

Overall, ACHR ranks 6th on our list of stocks that are skyrocketing today. 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.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires

Disclosure: None. This article is originally published at Insider Monkey.