Why These Defense Stocks Are Gaining This Week

3. Archer Aviation Inc. (NYSE:ACHR)

Weekly Gains: 22.21%

Archer Aviation Inc. (NYSE:ACHR) is an aerospace company, headquartered in San Jose, California, engaged in the development of eVTOL aircraft. It is also working on the development of a hybrid aircraft platform for the defense market.

The stock has surged by over 22% in the past week after the announcement of a strategic partnership between Archer Aviation Inc. (NYSE:ACHR) and Palantir Technologies to build the next-gen aviation software that utilizes artificial intelligence to improve air traffic control, route planning, and movement control.

Analysts believe the deal is likely to bolster Archer Aviation Inc. (NYSE:ACHR)’s footprint in the industry and could also attract interest from Gen Z investors who are looking for aviation stocks that deploy artificial intelligence.