Why These Defense Stocks Are Gaining This Week

5. Archer Aviation Inc. (NYSE:ACHR)

Weekly Gains: 7.46%

Archer Aviation Inc. (NYSE:ACHR) is an aerospace company that is engaged in developing eVTOL aircraft. It is also working on a hybrid aircraft platform for the defense market.

The stock has continued its rally following the announcement of a strategic partnership earlier this month 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.

Shares jumped 7.46% over the past week to close at $8.93 per share on Monday, March 24. Analysts believe the deal is likely to bolster Archer Aviation Inc. (NYSE:ACHR)’s footprint in the industry and attract interest from young investors looking for aviation stocks that deploy AI.