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Archer Aviation's ( ACHR -23.72% ) electric vertical takeoff and landing (eVTOL) vehicles are still grounded, but the stock was taking flight last month as enthusiasm for the new short-distance transportation technology mounted. According to data from S&P Global Market Intelligence , the stock finished last month up 204%. A surge in the second half of the month came after Needham initiated coverage on the stock with a buy rating after the Federal Aviation Administration (FAA) issued a new set of rules in October, clearing the way for the new vehicles to take flight. As you can see from the chart below, the stock went parabolic shortly after the Needham note came out, soaring nearly every session after Nov. 18. ACHR data by YCharts. Archer gains altitude Archer Aviation is still a development-stage company without revenue, but it's hopeful its vehicles will begin flying commercially as soon as late 2025. Archer's eVTOL vehicles resemble advanced helicopters but have advantages, including being electric, being less noisy than helicopters, and having multiple engines, which means they don't have a single point of failure, unlike conventional helicopters. Interest in the stock has been building as it moves closer to commercialization, but shares soared on high volume following the Needham note, which seemed to spark the rally. The stock jumped 16.3% on the bullish endorsement. Needham gave the stock a buy rating and a price target of $11, noting that industry momentum had reached a tipping point. Analyst Chris Pierce also said its $6 billion order book thanks to customers like United Airlines gave it confidence in the stock, and it saw a path to $3 billion in annual revenue. Archer stock gained in nearly every session in November since the Needham note came out as investors jumped on the bandwagon. What's next for Archer Aviation eVTOL stocks have soared since the FAA released new special regulations to integrate eVTOL aircraft safely into the aviation system, essentially giving them government clearance. However, the recent rally in the stock may have reached its ceiling as Archer shares plunged on Dec. 1 even though there was no news on the stock. Instead, investors took the opportunity to pocket profits, and the selling could also signal fears of a bubble in the stock as it's unclear how close it is to commercialization or what the underlying demand for eVTOL transportation is. Investors should expect continued volatility in the stock as shares are likely to move in response to updates on its progress toward commercialization.J Studios Introduction Coherent Corp. ( NYSE: COHR ), a vertically integrated electronic component manufacturer, whose products are primarily used in the communications and industrial markets, has been in tremendous form through 2024. On a YTD basis, we’ve seen the stock more than double, and generate total returns that Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
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Some Atlantic City casino workers call on union boss to resign for opposing a smoking banDevelopments in Sustainable Energy Generation and DistributionU.S. President-elect Donald Trump has pledged to block Japanese company Nippon Steel's planned purchase of U.S. Steel. Philadelphia news 24/7: Watch NBC10 free wherever you are "I am totally against the once great and powerful U.S. Steel being bought by a foreign company, in this case Nippon Steel of Japan," Trump said in a post to his social media platform Truth Social on Monday night E.T. "As President, I will block this deal from happening," he said, adding that he will make U.S. Steel "Strong and Great Again" through the use of tax incentives and tariffs. While he made similar statements on the 2024 campaign trail, it was the first time that Trump had spoken about the deal since he won a second presidential term last month. Nippon Steel, the fourth largest global steelmaker, reached an agreement to acquire U.S. Steel last December . However, the deal encountered opposition from United Steelworkers, a prominent labor union , as well as U.S. President Joe Biden, who has vowed that U.S. Steel will remain American-owned. The U.S. Committee on Foreign Investment, which examines possible national security risks of transactions by foreign entities, has been reviewing the deal. U.S. Steel has an annual production capacity of around 20 million metric tons , while Nippon Steel is the leading steel producer in Japan. Together, the two companies would have a total capacity of up to 86 million tons . Nippon Steel and U.S. Steel did not immediately respond to CNBC's requests for comment on Trump's latest remarks. A spokesperson for Nippon Steel previously said the acquisition would revitalize the American Rust Belt and enhance U.S. national security "in a way no alternative can." Takahiro Mori, Nippon Steel's vice chairman, had told reporters in November that he believes the deal could be closed before Trump assumes the White House in January. In September, U.S. Steel CEO David Burritt had also expressed confidence , defending the planned sale as a deal that would strengthen national security, as well as economic and job security. Shares of U.S. Steel have fallen over 15% year-to-date, while Nippon Steel's shares slipped more than 4% across the same period of time, according to data from LSEG.
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