Archer Aviation: A Tumultuous Ride
CNBC’s Jim Cramer doesn’t mince words when he declares Archer Aviation Inc. as lacking “earnings power.” The company’s recent financial report paints a bleak picture, with fourth-quarter losses that shattered expectations.
On February 26, Archer Aviation disclosed disappointing results, with losses climbing to 34 cents per share, missing analyst predictions by a notable margin. This figure marks a 12.82% increase in losses compared to the same period in the previous year. Looking ahead, the company anticipates non-GAAP operating expenses amounting to $75 million to $95 million for the initial quarter of 2024.
Robinhood’s Turbulent Trajectory
Jim Cramer’s stance on Robinhood Markets, Inc. remains guarded. The market darling has surged unexpectedly, prompting caution from the seasoned analyst. Referencing the recent unveiling of the Robinhood Gold Card, Cramer emphasized reservations about “buying doubles” in his investment strategy.
Crown Castle Reigns Supreme
Contrary to his reservations, Cramer displayed confidence in Crown Castle Inc., advocating for further investments with its 6% yield. This newfound optimism stems from the company’s robust earnings, which surpassed forecasts for the fourth quarter.
On January 24, Crown Castle reported stellar results for the previous quarter, prompting Cramer’s faith in the stock’s potential.
Price Performance Snapshot:
- Archer Aviation: Fell by 1% to close at $4.74 on Wednesday.
- Robinhood Markets: Gained 3.8% to settle at $20.01.
- Cummins Inc.: Saw a 1% increase, finishing at $294.69.
- Crown Castle Inc.: Registered a 3.6% gain, closing at $105.59 during Wednesday’s trading.
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