Archer Aviation Inc. (ACHR) saw its stock price soar an impressive 16.74% in intraday trading on Thursday, fueled by the growing influence of retail investors on the US stock market.
The electric aircraft company's shares skyrocketed as it became one of the heavily discussed stocks on Reddit's WallStreetBets forum, a gathering place for retail traders. With experts noting the importance of monitoring social media trends to gauge market sentiment, the surge in Archer Aviation aligns with the broader "fear of missing out" (FOMO) rally driving US stocks to record highs.
According to analysts, the recent market momentum has been propelled by retail investors actively trading popular stocks and options, with WallStreetBets serving as a barometer for their activity. As retail participation increases during the holiday season, stocks like Archer Aviation have been caught up in the frenzy, joining the ranks of traditional meme stocks like GameStop (GME) and AMC Entertainment (AMC).
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