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Archer Aviation Zooms 11% Higher as Boeing Deal Rally Extends on Earnings-Call Details; Joby, EHang Lag Behind
['David Moadel', 'Tue', 'August', 'At Pm Gmt', 'Min Read']
Yahoo Finance
Quick ReadArcher Aviation surged 11% Tuesday as earnings-call details revealed Boeing's Insitu subsidiary generates $200M+ annually and can fund Archer's operations independently.
The move follows Monday's coverage of the Boeing (NYSE:BA) tie-up with Archer Aviation and reflects Day 2 follow-through on the same story.
Joby Aviation (NYSE:JOBY) shares are down 2% to $8.59, and EHang Holdings (NASDAQ:EH) shares are unchanged/flat at $5.68.
The per-share loss came in line with estimates, and Archer stock is responding to the growth setup rather than the bottom-line print.
Archer Aviation posted a Q2 adjusted EBITDA loss of $177.1 million and guided Q3 to an adjusted EBITDA loss of $170 million to $200 million.