Archer Aviation (ACHR -0.52%) stock is making big gains in Thursday's trading. The flying-electric-vehicle company's share price was up 15% as of 11:30 a.m. ET.
Archer Aviation stock is surging today thanks to expectations that Stellantis will remain a significant partner despite the recently announced departure of the automaker's CEO. Archer may also be gaining ground thanks to a recently published article on TipRanks about Canaccord being bullish on the stock -- but there's a catch.
Archer Aviation is surging again
Earlier this week, Stellantis announced that CEO Carlos Tavares had resigned from his role at the company. Stellantis has been a major investor and partner for Archer Aviation, and the leadership change spurred concerns that the automaker could pivot from its partner role for Archer under new leadership. The market appears to be moving away from those concerns, and the stock is up roughly 146% over the last month.
Archer Aviation's valuation may also be getting a lift from a recently published article on TipRanks. The article, titled "Canaccord Pounds the Table on Archer Aviation Stock," outlines a bullish take on the stock, presented by Canaccord analyst Austin Moeller. But there's a pretty big catch here.
For starters, the analyst assigns a one-year price target of $8.50 per share in his most recent coverage on Archer stock. With today's gains, that price target suggests additional upside of only 6%. Additionally, the recently published TipRanks article actually details analysis put forth by Moeller roughly a month ago.
What's next for Archer Aviation stock?
Archer Aviation has achieved meme stock status. That's not to say that the company doesn't have some promising strengths and attractive growth opportunities, but the flying-taxi specialist's share price has often made big moves on little or no news.
With the stock seeing big gains, in conjunction with speculation on the company's outlook with Stellantis and the publication of summarized analyst coverage from a month ago, the volatile nature of the stock's near-term outlook should be clear. Even in the absence of significant, business-related news, there's a good chance that the stock will continue to see big moves in the near term.
