Shares of Archer Aviation Inc plummeted on Friday, the company’s second-worst day ever, after it sold new shares to fund its electric vertical takeoff-and-landing (eVTOL) aircraft. The move sparked investor discontent over President Donald Trump’s support for the project.
Investors were upset with the way Archer raised money to build more eVTOL aircraft, which has caught the attention of the former US president. Trump has expressed his desire for such aircraft. The company’s decision to sell shares has led to a significant drop in its stock value.
Source: https://www.marketwatch.com/story/why-archer-aviation-is-getting-dinged-for-its-plans-to-do-what-trump-wants-ae7aabaa