Archer Aviation stock surged 10.8% in Thursday’s trading session, outperforming the S&P 500 and Nasdaq. The eVTOL company now boasts a market cap of $7.4 billion, despite minimal revenue projections for the year. With potential for rapid growth, Archer remains a high-risk, high-reward opportunity in the speculative tech sector.

Investors are seeing Archer Aviation’s stock gain momentum due to positive macroeconomic indicators and news of Joby Aviation’s production expansion. Speculative tech stocks are driving interest, with expectations of multiple interest rate cuts by the Federal Reserve. Despite the lack of fresh business-specific news, Archer’s valuation continues to soar.

Archer Aviation presents a high-risk, high-reward investment opportunity. With a market capitalization of $7.4 billion, the company’s stock is trading at 581 times its expected revenue for the year. As the eVTOL industry gains traction, Archer stands to benefit, but investors should be prepared for potential volatility.

Read more at Yahoo Finance: Archer Aviation Skyrocketed Today. Is the Stock a Buy Right Now?