Shares of Archer Aviation (NYSE:ACHR) reached their highest level since July, fueled by speculation that the electric vertical take-off and landing ((eVTOL)) aircraft maker is involved in Tesla’s (TSLA) widely anticipated announcement on Tuesday.
Over the weekend, Tesla (TSLA) hinted to a special event tomorrow in a nine-second video on social media platform X with a spinning Tesla logo with “10/7” at the end and another ten-second video of Tesla (TSLA) headlights in the dark. Wall Street interprets this as a tease for a new product.
Archer Aviation (NYSE:ACHR) shares are up another 16% Monday, bringing its five-day gain to 40%.
