Archer Aviation Stock Tumbles as Cathie Wood Loads Up

Archer Aviation's stock price declined by 6% on Wednesday, closing at $5.50 per share.

The drop was not attributed to any company-specific negative news, but rather a broader market trend of investors moving away from riskier assets in the face of rising Treasury yields and oil prices.

The 10-year U.S. Treasury yield reached its highest closing level in nearly three years, hitting around 4.84%. This increase in yields negatively affected early-stage growth companies like Archer Aviation, which continues to spend heavily on aircraft development and certification with no meaningful passenger revenue yet.

Despite the decline, Cathie Wood's ARK Invest purchased 575,700 ACHR shares on September 8 through its flagship ARK Innovation ETF, a transaction worth around $3.35 million at Tuesday's closing price.