Why Archer Aviation Inc. (ACHR) Soared on Monday

We recently compiled a list of the 10 Firms Begin Trading Week With Impressive Gains. 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 on a positive note, with all major indices clocking in gains, as investors brushed off President Donald Trump’s latest imposition of hefty tariffs on steel and aluminum products from Canada and Mexico.

The Dow Jones rose 0.38 percent, the S&P 500 grew 0.67 percent, while the Nasdaq rallied 0.98 percent.

Ten companies mirrored a broader market optimism amid a series of positive catalysts sparking buying appetite.

In this article, we will take a look at which companies led the charge and explore the reasons behind their performance.

To come up with Monday’s best performers, we considered only the stocks with at least $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. grew its share prices by 13.08 percent on Monday to end at $10.20 apiece amid brimming hopes of the launch of its flying taxis in Abu Dhabi this year.

A report by The National quoted ACHR founder Adam Goldstein that the company was “ready to launch” this 2025.

“We’ve made great partners with Etihad, Etihad Engineering, all the partners across the entire ecosystem. So, the goal is to really start flying aircraft in Abu Dhabi this year,” Goldstein was quoted as saying.

ACHR was backed by automaker Stellantis and Abu Dhabi sovereign wealth fund Mubadala. It was among the first few companies to get the first commercially viable electric vertical take-off and landing (eVTOL) vehicles off the ground.

ACHR’s electric aircraft, the Midnight, is expected to be the first to launch in the skies of Abu Dhabi. It was designed to carry up to four passengers and a pilot with a range of 160 kilometers.

Overall ACHR ranks 6th on our list of Monday’s best performers. 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 timeframe. If you are looking for an AI stock that is as promising as ACHR but that 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 Complete List of 59 AI Companies Under $2 Billion in Market Cap.

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