Archer tanks 12% after air taxi maker sells additional 85 million shares, buys LA-area airport
Archer Aviation's stock plummeted 12% after a share sale overshadowed a narrower-than-expected third-quarter loss.The company posted a net loss 178.6 million loss.However, Archer disclosed a 126 million acquisition of Hawthorne Airport in Los Angeles as a hub for air taxi operations there. Archer was chosen as the official air taxi provider for the 2028 Olympics in Los Angeles.The mo ...