- Archer Aviation saw its stock rise 13.7% on Friday after sharing a video showing its Midnight eVTOL aircraft with a Tesla Optimus robot and a car.
- Retail interest increased over the weekend due to speculation about a potential partnership between Archer Aviation and Tesla.
- Tesla posted a separate video suggesting an upcoming announcement related to a new turbine-like product on October 7.
- Both Archer Aviation and peer Joby Aviation showcased their aircraft at the California International Airshow, with Archer’s Midnight performing a conventional takeoff.
- Archer stock has risen 16.6% year-to-date, and the company is involved in a federal air taxi deployment program and collaborations with United Airlines.
Archer Aviation experienced a significant increase in its stock price on Friday, rising 13.7% after the company posted a video that featured its Midnight electric vertical takeoff and landing (eVTOL) aircraft. The video showed the aircraft alongside a Tesla Optimus robot and a car, which attracted considerable attention.
Retail investor discussion intensified through Sunday, fueled by ongoing rumors of a possible partnership between Archer Aviation and Tesla. The surge in interest followed Archer’s live demonstration of the Midnight aircraft at an airshow.
In a separate event, Tesla published a short video on X displaying a spinning turbine-like object with the Tesla logo. The video hinted at a possible announcement on October 7. Elon Musk previously commented on the importance of producing drones at scale, stating in July, “We better figure out how to build drones at scale fast, or we are doomed to be a vassal state.”
Some traders believe a ride-hailing partnership may be forthcoming, with one user commenting, “If [the] rumour with Tesla partnership comes true, then this will go to Mars!” Others suggested that Archer would not have posted the video without Tesla’s approval, implying closer cooperation.
At the California International Airshow, Archer and Joby Aviation demonstrated their respective aircraft. According to a Business Insider report, Archer’s Midnight showcased a standard, non-vertical takeoff.
Year-to-date, Archer Aviation shares are up 16.6%. Last month, Archer announced participation in a federal pilot program to speed air taxi rollout and partnerships with organizations such as United Airlines for operational trials.
In August, short seller Grizzly Research released a report accusing Archer Aviation of overstating its technological progress and using public relations to support its valuation.
For more information, see Archer’s demonstration video here and Tesla’s announcement video here.
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