NEW YORK, May 27, 2026, 04:49 EDT
Archer Aviation Inc. shares climbed in Wednesday’s premarket, tacking on more gains after a sharp rebound over the last three sessions. Investors are looking at new air-taxi milestones, but the business is still running a cash burn.
The stock traded at $6.65 as of 04:45 EDT, up 2.14% from Tuesday’s finish at $6.51. It’s up around 12.6% since closing at $5.78 on May 20, but still sits well shy of its 52-week high at $14.62. On Tuesday, shares rose 2.36% on 75.15 million shares traded, outpacing both the S&P 500 and Nasdaq.
This is a look at the premarket, not the full trading day. The New York Stock Exchange trades from 9:30 a.m. to 4:00 p.m. ET. Wednesday is the first regular session since the exchange closed for Memorial Day on Monday.
Archer is in focus now as it works to move its electric-aircraft pitch into a real certification and operations push. The company’s Midnight aircraft is an eVTOL, short for electric vertical take-off and landing. It runs on batteries and is built to lift like a helicopter but fly like a small airplane.
Archer said this month it finished Phase 3 of the U.S. FAA’s four-step type-certification process, which is needed for new aircraft models. CEO Adam Goldstein called the quarter a “banner” one and said Archer is “far more than an air taxi company.” Goldstein also pointed to the company’s work in defense, AI, and passenger flights. Archer Aviation
Federal pilot projects are making progress. The FAA and U.S. Department of Transportation picked eight projects for the eVTOL Integration Pilot Program, or eIPP. The program is set to test advanced air mobility in the real world, with operations due to start by summer 2026. Archer is a partner on projects in New York/New Jersey, Texas, and Florida. Joby Aviation and BETA Technologies, both sector peers, are also on several project lists. FAA Deputy Administrator Chris Rocheleau said the effort will help regulators “safely and efficiently integrate” these aircraft into U.S. airspace. Federal Aviation Administration
Archer is making a push in Los Angeles. The company wants to use Hawthorne Airport, which sits less than three miles from Los Angeles International Airport, as the hub for its planned air-taxi network and as an AI test site. United Airlines CFO Michael Leskinen said Archer’s advances “validate our conviction” in eVTOLs as a future piece of air traffic tech. Archer Aviation
The jets aren’t the only thing at stake. Joby sued Archer last year, saying the rival misused trade secrets. Archer fired back with a countersuit, bringing up alleged China ties at Joby. Both companies deny the main charges from the other.
Archer’s numbers still fit a development-stage profile. For the first quarter, Archer posted revenue of $1.6 million, a net loss of $217.7 million, and adjusted EBITDA loss at $172.5 million. Adjusted EBITDA—earnings before interest, taxes, depreciation and amortization, adjusted for some items—is a non-standard metric used mainly by unprofitable companies. Archer closed March with about $1.78 billion in cash, cash equivalents and short-term investments.
But the risk is clear. Archer warned in its latest filing it has posted losses since it was founded, hasn’t made much revenue from its planned business, and expects losses and costs to keep rising. The company also flagged uncertainty around when it might get certified, how long manufacturing ramp-up could take, and what it will cost.
The stock is moving on milestones, not earnings. It could get a lift from progress with FAA testing, more clarity on federal pilot programs, or new details on how it runs. But if certification takes longer, cash burn jumps, or litigation turns, sellers would have a reason to push back.
