We recently published a list of 10 Surprising Stocks That Skyrocketed Today. In this article, we are going to take a look at where Archer Aviation Inc. (NYSE:ACHR) stands against other Friday’s top performers.

The stock market finished the trading week in the green territory as investors looked past the series of mixed corporate earnings performance and inflation worries, amid the easing trade tensions between the US and China.

The Dow Jones climbed by 0.78 percent, while the S&P 500 and the tech-heavy Nasdaq grew by 0.70 percent and 0.52 percent, respectively.

Beyond major indices, 10 companies—predominantly Bitcoin miners and quantum computing firms—registered a strong finish, thanks to fresh corporate developments boosting investor appetite.

In this article, we name Friday’s 10 top performers and detail the reasons behind their gains.

To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million in trading volume.Why Archer Aviation Inc. (ACHR) Skyrocketed Today

A technician assembling an electric aircraft, highlighting the company's manufacturing capabilities.

Archer Aviation Inc. (NYSE:ACHR)

Archer Aviation rallied for an eighth consecutive day on Friday, jumping 9.11 percent to close at $13.30 apiece following news that it was tapped as the official air taxi partner of the 2028 Los Angeles Summer Olympics and Paralympic Games.

During the games, Archer Aviation Inc. (NYSE:ACHR) is set to feature its fleet of electric vertical takeoff and landing (eVTOL) aircraft, including the Midnight model, which can accommodate up to four passengers.

However, the aircraft has yet to secure the green light of the US Federal Aviation Administration (FAA). Archer Aviation Inc. (NYSE:ACHR) said it expects to receive the certification by the end of the year.

Once its air taxis kick off commercial operations, users are expected to be able to hail an air taxi through an application.

Goldstein said fares should be priced in line with Uber premium rides.

Archer Aviation Inc. (NYSE:ACHR) expects to launch its Midnight model in the UAE in the next few months, for its planned launch later this year.

Overall, ACHR ranks 8th on our list of Friday’s top performers. While we acknowledge the potential of ACHR as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than ACHR but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.

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