Archer Aviation ( ACHR -1.54%) stock lost ground in today's trading despite surging earlier in the session. After having been up as much as 16.4%, the electric flying-taxi company's share price ended the daily session down 1.5%. Meanwhile, the S&P 500 ( ^GSPC -2.95%) fell 3%, and the Nasdaq Composite ( ^IXIC -3.56%) ended the day down 3.6%.

Forget a wild year, it’s been a wild couple months in the stock market. As we look to close out 2024, stocks that have been seen as potential beneficiaries of Donald Trump’s recent presidential election win have outperformed.

Archer Aviation shares are trading higher by 10.7% during Friday's session. The company recently partnered with Anduril for defense VTOLs, raised $430 million and expanded eVTOL efforts.

The market has started recognizing Archer's strengthened financial and operational positions, reflected in the stock's 185% surge over the past 90 days (as of Dec. 16, 2024). Yet the company's current market cap of $3.88 billion might still significantly undervalue its dual-market potential and robust strategic backing.