Archer Aviation at Last Year's High Is About $3,840 Now. Here's What Gets It Back.

Archer Aviation’s shares have fallen sharply since last October’s peak, dropping about 62% from $14.62 to around $5.61. The article argues the business hasn’t shrunk—flight testing has expanded and its certification work with the FAA has entered the final phase of Archer’s four-step process for its electric aircraft, Midnight—but the market value has shifted toward revenue timing rather than milestones. The stock is “priced” for progress while income remains uncertain. The piece also notes Archer’s share count increased as the company funds development, rising from about 549 million shares (May last year) to about 770 million by early August. Key potential catalysts include FAA type certification, first fare revenue, and airline delivery orders.