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The move was not tied to a fresh company-specific setback. In fact, Archer recently reached a key milestone by completing Phase 3 of the Federal Aviation Administration’s certification process. Instead, the selloff appears to have been driven by a sharp risk-off move in the broader market, with speculative growth stocks taking the hardest hit.
Archer Aviation is down 26.33% year-to-date, closing on Friday at $5.54.
Hot Jobs Data Hit Growth Stocks
The pressure began after the May jobs report showed the U.S. economy added 172,000 jobs, far above expectations of roughly 80,000. Investors viewed the stronger-than-expected labor market as a sign that inflation could stay sticky, reducing the chances of near-term Federal Reserve rate cuts.
