What Happened
Earnings Call Reveals Self Funding Potential Through Insitu Acquisition
Archer Aviation’s stock has surged 11% following the release of earnings-call details, which revealed the potential for self-funding through the acquisition of Boeing’s Insitu subsidiary. The subsidiary generates over $200 million in annual revenue, and Archer’s Q2 revenue increased 213% quarter over quarter. The rally is company-specific, with Joby and EHang stocks not participating. This development was first reported by an unknown source.