New York, May 25, 2026, 18:01 (EDT)
Archer Aviation (ACHR) heads into Tuesday’s U.S. open holding Friday’s close of $6.36, as markets were closed Monday for Memorial Day. The NYSE-listed electric air-taxi company added 3.9% Friday and was up 5.1% for the week. After the bell, ACHR slipped to $6.29 in after-hours trading.
Archer’s pause draws attention since the company isn’t trading on earnings. Its shares move on signs that regulators, airports and first customers will allow it to shift from running test flights to real service. Archer makes electric vertical takeoff and landing vehicles, or eVTOLs—battery aircraft designed to take off like helicopters and fly short trips in cities.
Archer shares swung around before the holiday. The stock dropped for three straight sessions to start the week, then bounced 5.9% Thursday and another 3.9% Friday. Volume Friday was roughly 79.1 million shares. That rebound put Archer back above the previous Friday’s $6.05 finish.
Certification is still the big hurdle. Archer said this month it finished Phase 3 of the FAA’s four-phase Type Certification path for its Midnight eVTOL, claiming it’s the first in the space to get this far. Type Certification from the FAA means an aircraft design has hit required safety marks. Phase 4 brings formal testing and analysis.
Founder and CEO Adam Goldstein called it “another banner quarter” for Archer, saying the company is “far more than an air taxi company” and highlighting work in defense and software in addition to its planned passenger service. Archer Aviation
Archer’s first-quarter numbers show why investors are still cautious. The company posted revenue of $1.6 million and a net loss of $217.7 million. Operating expenses hit $256.2 million, with $171.7 million spent on R&D. At March 31, cash, cash equivalents and short-term investments totaled about $1.78 billion. Archer said losses and operating costs are likely to rise for now.
Investors this week will be looking for updates on Phase 4 testing, Archer’s strategy for starting early U.S. missions under the eVTOL Integration Pilot Program, and what the company is doing to get ready in Los Angeles. Archer has said it plans to begin U.S. operations this year within the pilot program and is also building its international presence in the United Arab Emirates.
Rivalry isn’t the whole story. The FAA in March picked eight projects for its eVTOL Integration Pilot Program, with operations set to start in summer 2026. Archer, Joby Aviation, and BETA Technologies all show up as partners on projects in New York/New Jersey, Texas, and Florida. So the program is both a test and a race.
Archer analysts stay positive, but views aren’t unanimous. Out of eight analysts, MarketBeat shows five buys, two holds and one sell. The average target stands at $11.83 over 12 months. Canaccord Genuity’s Austin Moeller lowered his price target to $12 from $13 on May 12, holding his buy.
Downside is clear. If certification takes longer, pilots can’t scale up, airport or airspace approvals slow, or cash burn stretches past management’s outlook, Friday’s bounce might not last. Archer says timing and costs for development are tough to call and could end up way off from their forecasts.
Tuesday’s question is whether the long weekend looks like a break in the rally or just another window to dump gains. The bigger one, the one behind most eVTOL moves, is still about how far investors will push valuations before these aircraft have big passenger numbers and real revenue.
