Archer Aviation Stock Soars 20% on New Defense Deal

Shares of the electric vertical takeoff and landing, or eVTOL, aircraft maker rose 20.5% in midday trading to $5.36, while the was up 0.3%. The move came after the company announced plans to develop an autonomous vertical takeoff and landing platform for defense and commercial applications. “From raw performance to producibility, harnessing the best technologies from the commercial eVTOL market for defense is central to how Thunder will deliver operational value to our customers,” said Shane Arnott, SVP of Maneuver Dominance at Anduril, in a news release.