New York, June 7, 2026, 12:04 (EDT)
Archer Aviation Inc. (ACHR) tumbled 13.2% to $5.54 on Friday, capping a rough week for the stock. Shares touched a session low near $5.39 with volume topping 54 million. Traders pulled back from growth names and other long-term plays as risk appetite faded.
Why does it matter? Archer is trading on hopes for its electric air taxi and defense units, not just on what it earns now. Stocks like this tend to take a hit when rates rise. Investors discount future profits more when cash elsewhere pays better.
Jobs Report Sparks Selloff, Nasdaq Drops Over 4% as Rate Fears ReturnWall Street slumped Friday after hotter-than-expected May jobs numbers put new pressure on the Fed to stay hawkish. The Nasdaq Composite fell 4.18%, the S&P 500 slid 2.64%, and the Dow lost 1.35%, according to Reuters. U.S. employers added 172,000 jobs in May, beating forecasts by a wide margin.
Tech stocks faltered after their run, with “the dam just broke,” Carson Group’s chief market strategist Ryan Detrick told Reuters. “Positioning rather than fundamentals,” is how Wells Fargo’s chief equity strategist Ohsung Kwon put it, noting crowded trades in semis and some other top names. Reuters
eVTOL stocks hit hard as peers tumble. Joby Aviation slid 14.3% Friday, with Eve Holding down 9.4%. Both companies are working on electric vertical takeoff and landing aircraft—eVTOL—machines that take off like helicopters but fly on electric power.
Archer’s last market-moving update was in May, telling investors it expected to start U.S. operations in 2026 through the White House’s eVTOL Integration Pilot Program and for the LA28 Olympic Games. The company also reported it completed Phase 3 of the FAA’s four-step Type Certification for its Midnight aircraft, a key hurdle before any broad commercial rollout.
Archer stock can move fast, and the latest numbers show why. For the first quarter, Archer booked $1.6 million in revenue. Net loss came in at $217.7 million. Adjusted EBITDA loss was $172.5 million. The company ended March with $1.78 billion in cash, cash equivalents, and short-term investments. It is guiding for a second-quarter adjusted EBITDA loss between $170 million and $200 million.
Archer CEO Adam Goldstein told investors the company is “far more than an air taxi company,” pushing its defense and software ambitions. That message is at the heart of the stock pitch—Archer isn’t just selling an urban air taxi plan, but a shot at commercializing its aircraft, battery, and autonomy tech across the aerospace sector. Business Wire
Milestone for Archer is still getting through flight testing and certification. Benjamin Lyon, Archer’s president of aircraft OEM, told analysts in May a piloted transition flight was “not too far away” and aimed for sometime in the second half of the year. That’s the shift from vertical lift to wing-borne forward flight, which is a big test for the aircraft’s profile. StockAnalysis
Inflation data lands before Archer’s set to make its next move. Traders get May CPI from the Bureau of Labor Statistics at 8:30 a.m. Eastern on Wednesday, June 10, with PPI out at the same time on Thursday, June 11. Inflation numbers hit Archer because they feed into rate bets, and rate bets have hit risk names hard.
Sellers don’t need an Archer-specific headline to push the stock down further. Another move up in yields, slower FAA certification, test delays, or higher cash burn could all keep the pressure on. Archer warned in its May release that forward-looking statements may not match actual results, and some deals are still conditional.
Archer kicks off the week juggling two timelines. Wall Street is watching the inflation and rates story. At the same time, the company faces its own deadlines: show the aircraft technology works, keep cash reserves stable, and turn plans into actual flights.
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