Grizzly Research short Archer, says Midnight aircraft likely uncertifiable

Grizzly Research said it is short “Nikola of the skies” Archer Aviation (ACHR). In a recently published report, Grizzly writes that, “Our in-depth analysis, conducted with eVTOL engineers, scrutinizes all major players and finds Archer’s Midnight aircraft fundamentally flawed and likely uncertifiable. In contrast, their competitor Joby Aviation (JOBY) is making tangible and impressive progress on all fronts.” Further, it states that, “Archer’s ‘$6B’ order book is inflated with questionable and fraudulent commitments… The Archer Aviation Midnight is the epitome of lipstick on a pig. And so is Archer as a company, which puts style over substance. Their fixation on marketing is evident in the latest Abu Dhabi display. There are too many unanswered questions, inconsistencies, cover-ups, and red flags, all pointing to the same direction. Whether the eVTOL industry ultimately succeeds or fails is unclear, but it is obvious that if the industry does succeed, Archer’s Midnight will be trounced by its American competition in the Joby S4 and Beta Alia.”