Archer Aviation (ACHR) Stock Soars as Boeing Hands Over Wisk Aero and Drone Unit
TLDR
- Archer Aviation stock jumped 24% to $6.91 in premarket trading on Monday
- Archer agreed to acquire three Boeing subsidiaries: Wisk Aero, SkyGrid, and Insitu
- Wisk Aero develops autonomous air taxis; Insitu makes drones; SkyGrid provides air-traffic software
- Boeing will receive a nearly 20% stake in Archer plus warrants as part of the deal
- Boeing stock dipped 0.2% to $233.92 ahead of the opening bell
Archer Aviation stock was trading down 26% for the year heading into Monday. That changed fast.
The company announced it had agreed to acquire three Boeing subsidiaries, sending the stock up 24% to $6.91 in premarket trading.
The three companies being acquired are Wisk Aero, SkyGrid, and Insitu. Each one adds something different to Archerโs portfolio.
Today, we signed definitive agreements to acquire @WiskAero, @skygridai, and @Insitu_Inc from @Boeing, with Boeing taking a stake in Archer and becoming a strategic partner. We anticipate closing the transaction by year end.
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