Archer Aviation Slides 6% Despite Cathie Wood’s Second Straight Day of Buying; Joby Aviation Falls 4%, EHang Declines 2% Despite Sri Lanka Milestone
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Archer Aviation (NYSE:ACHR | ACHR Price Prediction) is falling even as Cathie Wood’s ARK Invest keeps adding to its stake in the electric vertical takeoff and landing (eVTOL) air taxi developer. Archer stock is at $4.55, down 6%, Thursday morning. ARK Invest added $1.7 million of Archer stock, marking the fund manager’s second straight day of buying.
The decline arrives days after Archer posted mixed Q3 2026 results on November 9. Archer’s revenue of $5.1 million beat the $3.57 million consensus, helped by deliveries of engines and battery packs to Anduril for its Omen program. On the bottom line, the company’s loss of $0.35 per share missed expectations for a $0.245 loss.
Why Archer Is Sliding Despite ARK’s Steady Buying
Archer’s decline fits a broader retreat from speculative growth names in a session shaped by Jensen Huang’s resignation as chief executive of NVIDIA (NASDAQ:NVDA). Overall, traders shook off the NVIDIA CEO exit. Small caps fell behind anyway, with the Russell 2000 down 0.6% while the S&P 500 rose 0.3%.
That pattern points to traders cutting their exposure to riskier, early-stage companies such as Archer, where one fund’s buying can’t offset broad selling. Back on November 9, Archer CEO Adam Goldstein laid out progress on the company’s pending purchase of Wisk, Insitu and SkyGrid from Boeing (NYSE:BA). Goldstein stated, “We previously indicated we expect to close it by the end of the year. However, we now believe that the closing will be much sooner than that, with only one of the nearly 20 governmental and third-party approvals outstanding.”
What Joby and EHang Say About the Air Taxi Selloff
Archer’s closest U.S. rival, Joby Aviation (NYSE:JOBY), is falling too. Joby stock is at $5.63, down 4%. That decline comes even after Joby raised its full-year 2026 revenue outlook on November 4 to $135 million to $140 million, from $115 million to $125 million, citing strength at its Blade passenger business.
Meanwhile, EHang Holdings (NASDAQ:EH) stock is at $3.90, down 2%. EHang recently announced that it conducted Sri Lanka’s first human-carrying eVTOL flights under its Global Fast Track Program, which aims to bring its pilotless air taxis to overseas markets. Upcoming earnings from the company may show whether that international push can offset slower passenger approvals at home in China.
Good company news has failed to lift any of the three air taxi names. Of the group, Archer is posting the largest decline, while EHang is holding up best.
How Archer’s Business Model Stacks Up Against Joby and EHang
Two engines drive Archer’s plan: commercial air taxis and defense. Archer’s piloted Midnight aircraft recently received a Federal Aviation Administration (FAA) Market Survey Special Airworthiness Certificate, and the first Midnight has arrived at Hawthorne Airport in Los Angeles. On the defense side, the company supplies engines and battery packs to Anduril and co-develops the Halo/Thunder autonomous aircraft, while the Boeing deal would add the Insitu drone business.
Joby leans on an operating business today. The company owns Blade, the helicopter passenger service that generates nearly all of Joby’s current revenue, and plans to both run its own air taxi network and sell aircraft to other operators. Superpilot, Joby’s autonomy system, opens the door to U.S. Air Force work.
EHang takes a different approach with fully pilotless aircraft. China’s Civil Aviation Administration certified EHang’s EH216-S, which the company calls the world’s first pilotless eVTOL with type, production and standard airworthiness certificates, and EHang also sells GD4.0 formation drones for drone shows. That mix ties EHang more closely to Chinese regulators than Archer or Joby.
What Comes Next for Archer’s Boeing Deal and Los Angeles Launch
Archer’s next test is whether the Boeing transaction closes and Midnight begins Los Angeles operations in the coming weeks, as management expects. The bulls can point to Archer’s $785.1 million in cash and to Boeing becoming the company’s largest shareholder. The bears, however, may focus on Archer’s Q4 2026 guidance for an adjusted loss before interest, taxes, depreciation and amortization (EBITDA) of $185 million to $205 million, against revenue of $5 million to $6 million.
Across the group, watch for Joby’s progress toward FAA flight testing and EHang’s next earnings report as checks on sector sentiment that could pull Archer along. Investors may want to research how Archer’s Boeing deal settles as part of their own due diligence.
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David Moadel is financial writer specializing in stocks, ETFs, options, precious metals, and Bitcoin. David has written well over 1,000 articles for leading online publications, helping investors understand markets, income strategies, and risk. His work has appeared in 24/7 Wall St., The Motley Fool, InvestorPlace, U.S. News & World Report, TipRanks, ValueWalk, Benzinga, Market Realist, MarketScreener, TalkMarkets, Finmasters, and others. With a master’s degree in education, David has taught at the elementary, high school, and college levels. That teaching background shapes his writing style: clear, educational, and practical. David has also built a loyal social-media audience by providing trustworthy financial content on YouTube, X/Twitter, and StockTwits.
