Wall Street Thinks Archer Aviation Is a Buy. Here's Why I Don't.

Despite analyst price targets suggesting upside potential, Archer Aviation faces significant headwinds including FAA certification delays for its Midnight eVTOL aircraft, ongoing patent litigation with Vertical Aerospace, substantial cash burn ($284.2M loss in Q2), and intense competition from well-funded rivals like Joby Aviation and international competitors. The company remains pre-revenue on its core business while experiencing significant share dilution.