Archer Aviation (NYSE: ACHR), a developer of electric vertical take-off and landing (eVTOL) aircraft, went public through a merger with a special purpose acquisition company (SPAC) on Sept. 16, 2021. Its stock opened at $9.90 per share the following day, but now trades at less than $4 per share. Let's see why Archer's stock fell -- and where it might be in 2030. Image source: Archer Aviation. Archer's Midnight eVTOL carries a single pilot and four passengers, travels up to 100 miles on a single charge, and reaches a maximum speed of 150 miles per hour. It expects its eVTOLs to eventually replace helicopters for short-range flights because they're greener, quieter, and easier to land in densely populated urban areas.
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