US Stock Market Move | Electric vertical takeoff and landing unmanned aerial vehicle (eVTOL) sector declines, JPMorgan Chase adopts a more cautious attitude towards the industry.
Electric Vertical Takeoff and Landing Unmanned Aerial Vehicle (eVTOL) sector trends down, as of the time of writing, Archer Aviation has dropped more than 9%.
On Friday, the electric vertical takeoff and landing (eVTOL) sector saw a decline, with Archer Aviation (ACHR.US) dropping over 9%, Joby Aviation (JOBY.US) dropping over 6.8%, Eve Holding (EVEX.US) dropping over 5.8%, and Blade Air Mobility (BLDE.US) dropping over 5.6% at the time of writing. J.P. Morgan has adopted a cautious stance on the eVTOL industry, trying to strike a balance between short-term outperformance of stock prices and the potential risk of a pullback in the long term. Analyst Bill Peterson warned that the hype surrounding the eVTOL industry may have surpassed the actual stage of development. J.P. Morgan downgraded Archer Aviation from "Overweight" to "Neutral" and downgraded Joby Aviation from "Neutral" to "Underweight."
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