New York, May 31, 2026, 11:04 EDT
Archer Aviation Inc. is looking to keep last week’s gains as U.S. markets open for a short week. Shares finished Friday at $6.81, up 7.1% on the week from $6.36 the previous Friday, with markets closed for Memorial Day earlier in the week. Friday’s trading volume was 56.89 million shares.
This matters for Archer since the company’s value now depends more on hitting milestones like certification, flight tests, and cash runway, rather than revenue. Investors are watching if its planned U.S. launches can go off in 2026.
Archer said this month it’s planning to start U.S. service this year under the White House’s eVTOL Integration Pilot Program, or eIPP, and as it gets ready for the 2028 Los Angeles Olympics. eVTOL, or electric vertical takeoff and landing, uses battery power for aircraft that take off like helicopters and fly like planes.
Archer Aviation said it finished Phase 3 of the FAA’s type certification for eVTOLs, calling itself the first company in the sector to do so. Next is Phase 4, where the company said its Midnight aircraft will need to meet FAA airworthiness standards through formal testing and analysis.
Founder and CEO Adam Goldstein said it was “another banner quarter” for Archer, telling investors the company is “far more than an air taxi company.” Goldstein said defense and aviation software are also in the mix for Archer. Archer Aviation
Archer reported a bigger net loss in the first quarter, posting a loss of $217.7 million compared with $93.4 million a year earlier. Research and development costs jumped 65.6% to $171.7 million, according to a filing. As of March 31, Archer had $951.1 million in cash and cash equivalents, and $824.8 million in short-term investments.
Adjusted EBITDA for the first quarter came in at a loss of $172.5 million. Archer is guiding for an adjusted EBITDA loss of $170 million to $200 million in the second quarter.
Wall Street isn’t moving in a straight line. Canaccord Genuity lowered its price target on Archer to $12 from $13 but kept a Buy. MarketBeat linked analyst Austin Moeller to the May 12 change. The same site listed eight analysts giving Archer a “Moderate Buy” and an average price target of $11.83, above Friday’s close. Investing.com Canada
Joby Aviation is in the mix too. The company was picked for U.S. air-taxi operations supported by the White House, covering 10 states, and said its first FAA-conforming aircraft should fly soon for type inspection authorization. Eve Holding, which is backed by Embraer, is still in development. In early May, Eve said it doesn’t expect significant revenue while it finishes the aircraft.
The risks are clear. Any slip in certification, more spending than expected, slow progress on infrastructure or a new capital raise could weigh on the stock. Archer flagged these issues in its latest quarterly filing, saying there’s no guarantee it will hit its business targets, that current cash will suffice, or that it can get financing on terms it wants.
Looking ahead to this week, the key question for the stock is if the FAA milestone shifts investor focus away from cash burn. With no major company event set for the next few sessions, shares could move on sentiment, analyst calls, or news on certification and early U.S. routes.
For now, the trade is less on air taxis being a massive market and more on whether Archer can keep showing milestones that keep investors on board with its timeline.
