This Aerospace Stock Is Cheap, But Does That Make It a Buy Today?

Archer Aviation's stock has fallen over 60% from 2025 highs and now trades near 2021 SPAC merger levels. While the company is developing promising eVTOL aircraft (Midnight for commercial use, Thunder for military/industrial applications), significant challenges remain including ongoing losses, pending regulatory approvals, production ramp-up costs, and intense competition. Most investors should wait for commercial approval before considering a purchase.