10 Stocks that Fell Off the Cliff

4. Archer Aviation Inc. (NYSE:ACHR)

Archer Aviation saw its share prices decrease by 8.94 percent to close at $9.88 apiece as investor sentiment was dampened by an executive’s disposition of worth $1 million shares in the company.

According to a regulatory filing, Archer Aviation Inc. (NYSE:ACHR) General Counsel Eric Lentell sold more than 95,000 ACHR shares at a price of $10.6 for a total of $1.01 million.

While it said that the sale was executed under a Rule 10b5-1 trading plan, investors took the news in negative light, especially as the total value represented Lentell’s entire stake in the aviation firm.

In other news, Archer Aviation Inc. (NYSE:ACHR) partnered with JetEx for an infrastructure development for air taxis in the United Arab Emirates.

Under the partnership, the two companies plan to enhance Jetex’s strategically located fixed base operator (FBOs) locations to better suit Archer’s Midnight aircraft.

Archer plans to work with Jetex to design the passenger experience and integrate eVTOL aircraft into daily operations. The upgrades will be paired with Jetex’s luxury service standards to deliver an efficient, tech-enabled customer journey.