Archer tanks 12% after air taxi maker sells additional 85 million shares, buys LA-area airport
1. Archer's stock fell 12% after a $650M share sale announcement. 2. The net loss was $129.9 million, better than analyst expectations. 3. Share dilution concerns arise from increased shares outstanding (660.9M last year). 4. Archer aims for FAA certification and expansion in LA for air taxis. 5. Recent losses mirror broader trends in electric aircraft sector, particularly Joby Aviation.