Archer Aviation shares are trading higher after a 13D filing showed Stellantis raised its stake in the company from 7.4% to 10.6%.
Portfolio Pulse from Benzinga Newsdesk
Stellantis has increased its stake in Archer Aviation from 7.4% to 10.6%, according to a 13D filing. This has led to a rise in Archer Aviation's share price.
June 28, 2023 | 7:04 pm
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POSITIVE IMPACT
Archer Aviation's shares are trading higher after Stellantis increased its stake in the company.
Stellantis increasing its stake in Archer Aviation is a strong vote of confidence in the company, which is likely to attract more investors and drive up the share price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100