Archer Aviation Stock Takes Off As Midnight Flight Test Program Reaches New Heights

Archer Aviation Inc. (ACHR) shares gained nearly 7% in Tuesday’s midday trade following an update from the company on its Midnight flight test program.

Archer Aviation announced that its Midnight aircraft completed its highest altitude flight to date, reaching altitudes of 7,000 feet, after taking off from the company’s test facility in Salinas, California.

At the time of writing, Archer Aviation was among the top ten trending stocks on Stocktwits. Retail sentiment around the company trended in ‘extremely bullish’ territory.

Archer stated that this Midnight flight test is a part of a series of upcoming performance tests designed to trial and showcase the aircraft’s operational range. “Having the operational capability to operate at higher altitudes provides flexibility for managing air traffic in high-density environments and allows these aircraft to be able to operate in certain cities at elevation,” the company said.

It added that electric vertical take-off and landing (eVTOL) aircraft, such as Midnight, are designed to operate between altitudes of 1,500 feet and 4,000 feet. During this test, however, the Midnight aircraft reached an altitude of 7,000 feet, with the pilot flying a total of 45 miles at speeds exceeding 120 miles per hour (mph). In August, Archer conducted a test flight covering 55 miles at speeds of over 126 mph.

This comes at a time when Archer is gearing up for certification by the Federal Aviation Administration in the U.S. and launching commercial services in the United Arab Emirates in the near term.

ACHR stock is up 5% year-to-date and 238% over the past 12 months.

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