Why Archer Aviation Stock Soared This Week

Archer Aviation (NYSE: ACHR) stock saw strong gains over last week's trading. The company's share price closed out the stretch up 13% from the previous week's market close, according to data from S&P Global Market Intelligence. Over the same period, the S&P 500 index rose 1.7%, and the Nasdaq Composite index was up 0.6%.President Trump's inauguration earlier this week kicked off gains for the broader market, and Archer Aviation benefited from the rally. In addition to gains for the broader market, the stock got a boost from excitement surrounding the company's defense industry initiatives.President Trump was formally inaugurated and returned to office on Jan. 20. While the stock market was closed that day because the inauguration fell on the federal Martin Luther King Jr. holiday, stocks saw strong gains in Tuesday's trading. Archer Aviation and many other growth stocks enjoyed particularly pronounced gains.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool