Archer Aviation Shares Bounce on Boeing Deal, But Still Down from Peak

Archer Aviation Inc.'s shares rose 3.45% on Friday to $6.30, but the stock still ended a turbulent week 4.83% lower.

The company's shares have only increased by 0.64% since August 10, when it announced its deal with Boeing, which is set to take 19.75% of Archer's Class A stock.

Archer listed 8.26 million vendor shares that can be sold for resale, but the company didn't collect any cash from this issuance.

The Boeing deal brings in a defense business with annual revenues over $200 million, according to initial financial data and company projections.

Analysts' average target of $10.61 suggests a potential 68% gain for Archer's shares, but estimates range from $4.50 to $18.00.