Archer Aviation (NYSE:ACHR) stock is a hot topic on Monday after the electric vertical takeoff and landing (eVTOL) company announced a new deal with Signature Aviation.
This deal has Signature Aviation signing a memorandum of understanding (MOU) with Archer Aviation. This covers the use of its locations as takeoff and landing sites for Archer Aviation’s planned air taxi service.
Signature Aviation operates a large number of facilities in the United States. With this partnership, Archer Aviation could gain access to more than 200 airport terminals across the country.
Bryan Bernhard, Chief Growth & Infrastructure Officer at Archer Aviation, said this about the agreement:
“We are thrilled to join forces with Signature Aviation to advance the infrastructure needed to support the future of urban air mobility. By focusing on electrifying key aviation assets in major cities such as New York and Chicago, we are taking essential steps toward making sustainable and efficient air travel a reality.”
ACHR Stock Movement Today
Despite the positive news from Archer Aviation, the company’s shares aren’t seeing heavy trading. Only about 3.1 million shares have changed hands as of this writing. That’s still below its daily average trading volume of about 4.8 million shares.
ACHR stock is down 1.4% as of Monday afternoon and down 45.4% year-to-date (YTD).
There are more stock market stories worth reading about below!
We have all of the hottest stock market news available on Monday! That includes what’s going on with shares of The Aaron’s Company (NYSE:AAN) stock, Ovid Therapeutics (NASDAQ:OVID) stock and Mustang Bio (NASDAQ:MBIO) stock. You can read up on all of these matters at the following links!
More Monday Stock Market News
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
