Archer Aviation (ACHR) stock is up about 17% on Monday, building on a 14% gain from Friday. The upside is sparked by speculation that the air taxi company is about to announce a major partnership with Tesla Inc. (TSLA). The rumors began after Archer posted a promotional video that featured its Midnight electric vertical take-off and landing (eVTOL) aircraft alongside Tesla’s electric vehicle and Optimus robot.
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This boosted investor optimism that such a high-profile partnership could speed up Archer’s launch plans and make its vision for flying taxis more credible.
Adding fuel to the speculation, Tesla posted a short video on X on Sunday, featuring a rapidly rotating turbine-like object with the Tesla logo, and hinting at a major announcement on October 7.
ACHR Stock Soars as Commercial Launch Nears
ACHR stock has gained about 74% over the past six months. This rally is driven by progress in Archer’s “Midnight” air taxi development. Also, ACHR has locked in key partnerships with United Airlines (UAL) as a launch partner and has secured a role as the exclusive air taxi provider for the 2028 Los Angeles Olympics.
Moreover, Archer is making steady progress towards achieving the necessary FAA type certification. All these developments indicate that the company is moving closer to commercialization and revenue generation.
Is ACHR a Good Stock to Buy?
On TipRanks, ACHR stock has a Strong Buy consensus rating based on six Buys and one Hold assigned in the last three months. The average Archer Aviation stock price target of $13.14 suggests a downside risk of 2.38%.
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