Why Archer Aviation Stock Took a Dive on Tuesday

Archer Aviation's stock fell 5-9.8% on Tuesday despite mixed Q3 earnings results. The company beat revenue expectations ($5.1M vs. $3.57M consensus) but reported larger-than-expected losses ($0.35 loss per share vs. $0.34 expected) and significant cash burn of $470.1M. However, Archer received critical FAA certification for piloted operations of its Midnight aircraft and is progressing toward final certification, while maintaining $1.4B in cash reserves.