Archer surges on speculation that Tesla’s announcement has something to do with it

Shares of air taxi maker Archer Aviation rose more than 16% on Monday afternoon amid speculation that the company is somehow involved in an October 7 announcement Tesla has been teasing.

The latest theories appear to revolve around the inclusion of a Tesla Optimus robot and vehicle alongside Archer’s Midnight air taxi in a video Archer posted on X last week. On Sunday, the Tesla X account uploaded a video featuring its logo on a spinning wheel or propeller, leading some to further connect tomorrow’s announcement to the eVTOL (electric vertical takeoff and landing) industry.

Archer is prone to big swings — the stock has closed up or down 10% 29 times in the past 12 months. Monday’s move propelled the stock to its highest level since July. Archer rival Joby Aviation was also up more than 6% on the day.

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