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Archer Aviation (NYSE:ACHR) jumped 8.7% midday Friday, running hot after being named the Official Air Taxi Provider for the 2028 Los Angeles Olympic and Paralympic Games on Thursday. Its essentially a coup that could showcase its Midnight eVTOL fleet to over 15 million visitors and billions of global viewers.
Under the exclusive partnership, Archer's piloted, four-passenger electric air taxiwith lower noise and zero on-site emissionswill ferry VIPs, fans and stakeholders 1020 minutes between vertiport hubs at Inglewood Stadium, the LA Coliseum, LAX, Hollywood, Orange County and Santa Monica, while also backing emergency services and security operations.
Archer plans to electrify take-off and landing facilities at key venues, integrating its aircraft into Team USA logistics and broadcast support. The deal follows Midnight's recent FAA Part 135 air taxi certification progress and underscores Archer's drive to prove commercial viability ahead of planned service launches in 2025.
Why it matters: securing a high-profile 2028 Olympic role not only validates Archer's technology but also accelerates vertiport build-out and public awareness just as eVTOL adoption begins.
Archer Aviation has delivered a breakout performance, soaring 51.1% in just the past week and 85.9% over the last monthfar outpacing the S&P 500's returns. The stock has skyrocketed 222% over six months and is up 35.7% year to date, signaling major investor momentum. In comparison, the broader market has remained relatively flat, underscoring Archer's sharp outperformance. This kind of price action points to growing optimism around the company's long-term growth prospects.
This article first appeared on GuruFocus.