Archer Aviation, a developer of electric vertical takeoff and landing (eVTOL) aircraft aimed at 10- to 15-minute urban trips, has seen its stock fall nearly 50% this year, while analysts' average price target is $10.89. The article lists three risks: FAA certification delays for its Midnight aircraft and a patent dispute with Vertical Aerospace; no revenue yet from its core air taxi business, along with frequent share issuance that dilutes shareholders; and intense competition from Joby Aviation and EHang. In the second quarter, Archer reported $5 million in revenue, while its losses grew to $284.2 million. The author argues Archer could succeed in the long run, but its risks are too high for the stock to be a worthwhile investment.
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