What Just Happened To Archer Aviation Stock?

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Archer Aviation (ACHR) stock fell 61.7% in the year to October 30, 2026, while the S&P 500 returned 12.4%. That drop built over months. On August 10, 2026, management said Archer had agreed to buy three Boeing-owned companies in exchange for a Boeing stake in Archer. So what has that year, and a deal paid for in shares, changed about the company you own?

Archer Aviation Owners Now Hold A Smaller Slice

Archer reported 782 million diluted shares over the twelve months to June 2026, an increase of 35% from a year earlier, so each share you hold is a smaller part of the company. According to an investment analysis published on April 8, 2026, shareholder dilution weighed on the stock in the twelve months to April 2026, along with manufacturing delays and missed launch dates in the UAE.

The Boeing deal would add to the share count once it closes, since management said Boeing is being paid all in Archer stock, with a lockup. Archer did not fall alone, though: Joby Aviation lost 70% and Eve lost 66% in the year to October 30.

What Does The Boeing Deal Add To Archer Aviation?

The deal would give Archer real revenue. Management said Insitu, one of the three companies, is profitable with more than $200 million of revenue a year, and called it an immediate, sizable revenue base. Over the twelve months to June 2026, Archer generated $6.9 million in its own revenue, up from almost nothing a year earlier. Management expects the deal to close by the end of 2026, so none of Insitu’s sales are in Archer’s reported results yet.

Archer’s losses grew far more than its sales. The company posted a $943 million operating loss over the twelve months to June 2026, against $566 million a year earlier, while it kept flight testing its Midnight air taxi.

At the October 30 close, the shares were priced at 475.8 times twelve-month sales, against 3.2 times for the S&P 500. With a loss, Archer has no meaningful price-to-earnings figure, and the price appears to assume sales far above what the company sells today.

How Much Cash Does Archer Aviation Still Hold?

At the end of June 2026, Archer held $1,561 million of cash and short-term investments, against $126 million of debt. That cash came to nearly half of the company’s $3,283 million market value at the October 30 close, so a large part of what you pay for the shares is cash Archer already holds.

On the August 10 call, management said it aims to keep cash burn relatively flat after the Boeing deal closes and through the integration. Archer’s quarterly free cash flow, an outflow of $193 million in fiscal Q2 2026, is the number to watch when the company reports in November 2026.

What Would Another Fall In Archer Aviation Do To Your Plan?

A fall hurts most when one stock is a large part of what you own, and selling it to spread the risk can bring a large tax bill. Our partner advisory firm offers a free strategy review of ways to put a floor under a large position and unwind it with less tax.

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