Archer Aviation raises $650 mn, shares fall after Q3
Archer Aviation shares fell nearly 10% in after-hours trading Thursday despite strong retail buzz following its Q3 update. The company raised $650 million in new equity and agreed to buy Hawthorne Airport for $126 million. Archer reported $1.64 billion in cash at quarter-end, slightly down from $1.72 billion in Q2, as Stocktwits sentiment turned positive.