New York, July 12, 2026, 18:09 (EDT)
U.S. markets closed for the weekend with Archer Aviation Inc. NYSE:ACHR ending Friday at $4.73. The company last reported $1.78 billion in liquidity, which is about 49% of Archer’s $3.59 billion market cap. Shares dropped 5.0% during the week, closing just 2.6% above the 52-week low at $4.61.
At the first quarter’s combined $181.7 million in operating cash use and capital spending, Archer’s March cash stood at enough for about 9.8 quarters if that burn rate kept up. Subtracting the reported cash from Friday’s market cap, about $1.81 billion is left for the rest of the assets and liabilities. That figure isn’t enterprise value, which would also bring in debt and other capital sources, and Archer’s cash position may have shifted since March.
Still, splitting things up helps. About half of Archer’s equity value sits on the balance sheet now. The rest is tied up in milestones for certification, production, and demand—each expensive and tough to predict. Burn and regulatory developments drive the stock more than its limited current revenue.
Archer posted Q1 revenue of $1.6 million and a net loss of $217.7 million. The company said it expects an adjusted EBITDA loss of $170 million to $200 million in Q2. Adjusted EBITDA excludes interest, taxes, depreciation, amortization and some other items; it doesn’t represent cash flow.
Archer swung sharply this week. Shares surged 7.8% Monday, dropped 8.2% Tuesday, then slipped 2.5% Friday. Volume Friday came in at 23.8 million shares, or 59% of the 65-day average. Traders saw little sign of real buying.
The regulatory filing tied to Monday’s move left room for confusion. Archer’s Form 3 for Benjamin Lyon, president of the company’s aircraft manufacturing, listed two restricted-stock-unit grants totaling 792,321 shares. Restricted stock units grant stock over a set vesting period. The document was an initial ownership statement, not a report of Lyon buying stock on the open market.
eVTOL developers came under more pressure. These are companies building electric aircraft that can take off and land vertically.
| Company | July 10 close | Weekly change | Above 52-week low |
|---|---|---|---|
| Archer Aviation Inc. NYSE:ACHR | $4.73 | -5.0% | 2.6% |
| Joby Aviation Inc. NYSE:JOBY | $7.72 | -9.1% | 0.7% |
| Vertical Aerospace Ltd. NYSE:EVTL | $1.66 | -10.3% | 2.5% |
Weekly moves are based on July 2 closes, the last U.S. trading day of the week before. All three stocks finished the week within 3% of their 52-week lows. Archer dropped the least among them.
The group move stood out against a 1.2% weekly gain for the S&P 500 and 1.7% for the Nasdaq Composite. The Russell 2000 dropped only 0.6%. That points to the eVTOL pullback being more isolated from broader risk selling.
Archer is still all about execution. CEO Adam Goldstein said in May, “Proclamations don’t build new modes of transportation. Execution does.” Archer said it finished Phase 3 in the FAA’s four-step type-certification, and is working on Phase 4. That step needs formal tests and analysis to prove the aircraft design meets airworthiness standards.
The liquidity buffer could change. A lag in certification or faster spending than in Q1 might cut Archer’s runway, making a fresh equity raise more likely and shrinking current holders’ stakes. Archer has cautioned before that FAA signoffs could get delayed or not happen at all. Its recent filings also show it keeps issuing shares and holding some back for pay and other needs.
Next week’s key event is macro data. The June U.S. consumer price index lands Tuesday at 8:30 a.m. EDT, with producer prices following on Wednesday at the same hour. If inflation comes in hot, bond yields could move higher and stocks that rely on distant future cash flows may feel the impact. For Archer, $4.61 is the next price spot to watch, but any real shift likely waits on operating or FAA updates, not just another quick bounce.
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