Archer Aviation shares fell following a short position disclosure by Culper Research. The firm accuses the company of misleading investors regarding its operational progress.
Flight logs indicate Archer performed zero ground or air tests over the last three months. Culper Research alleges that CEO Adam Goldstein privately informed institutional investors to expect FAA certification by 2028 at the earliest.
This timeline represents a significant delay compared to previous public statements. The report also notes that Archer has yet to produce multiple aircraft despite months of assembly claims.