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3 Flying Car Stocks That Could Be Millionaire-Makers: May Edition

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

Flying car stocks are poised to transform the future of air transportation and redefine the way we perceive vehicles. While once confined to the realm of science fiction, flying cars are now becoming a tangible reality. These stocks have the potential to impact various industries, from industrials to search and rescue operations. Also, these brands are notable for having the potential to earn one a seven-figure sum.

An appealing aspect of these companies is that they receive relatively less media coverage compared to more prominent brands. This presents an opportunity for early investors to possibly benefit from substantial returns as their investments grow over time.

Let’s explore three flying car stocks with probability to generate significant wealth for investors.

Archer Aviation (ACHR)

Person holding cellphone with logo of American eVTOL aircraft company Archer Aviation Inc. (ACHR) on screen in front of webpage. Focus on phone display. Unmodified photo.

Source: T. Schneider / Shutterstock.com

Archer Aviation (NYSE:ACHR) is making significant strides in the electric vertical take-off and landing (eVTOL) industry. It plans to deploy 6,000 vehicles by 2030. The company has partnered with Stellantis to manufacture its eVTOL Midnight aircraft. The model, nearing the final phase of its certification program, underscores its readiness for a 2025 commercial launch.

Financially, Archer Aviation is navigating through its development phase with substantial investments in its Midnight aircraft. The company has detailed its operational and financial strategy for 2024. Estimated GAAP total operating expenses are projected to be between $100 million and $120 million. 

Moreover, ACHR could be an ideal alternative to more popular names like Joby Aviation (NYSE:JOBY). Both are strong picks, but ACHR’s market cap is around a third of JOBY’s. This implies more upside potential. Also, it’s more of a contrarian play, as the public’s attention is focused upon JOBY.

Eve Holdings (EVEX)

Self-driving flying car or taxi Vector illustration. eVTOL and flying car stocks

Source: Ico Maker / Shutterstock.com

Eve Holdings (NYSE:EVEX) is focusing on the European and East Asian markets. So, it differs from the more U.S.-centric approaches of its competitors. EVEX is strategically planning for expansion in South Korea and other parts of East Asia.

Financially, Eve Holdings reported a net loss of $25.3 million in the Q1 of 2024, which is slightly down from $25.8 million in the same period last year. This financial performance reflects increased Research & Development (R&D) costs. Specifically, the company is progressing in the development of its suite of products and solutions for UAM. Thus, R&D expenses rose to $27.5 million in Q1 of 2024 from $21.5 million in Q1 of 2023. 

Further, EVEX remains in pre-revenue stage. So financial results are primarily related to costs associated with the program’s development during this period.

Meanwhile, it continues to leverage its partnership with Embraer (NYSE:ERJ), utilizing their established aircraft development practices to advance its eVTOL technology. This includes progressing toward a full-scale prototype. And, Eve Holdings aims for dual certification by Brazil’s National Civil Aviation Agency (ANAC) and the U.S. Federal Aviation Administration (FAA). Plans for service entry are in 2026.

Therefore, EVEX could be one of those flying car stocks with seven-figure potential. And it may be suitable for those who want to invest primarily outside of the U.S.

Vertical Aerospace (EVTL)

The logo for Vertical Aerospace (EVTL) displayed on a smartphone screen.

Source: T. Schneider / Shutterstock.com

Vertical Aerospace (NYSE:EVTL) is actively advancing in the eVTOL space, focusing on urban air mobility solutions. 

The company emphasizes ramping up its R&D efforts to finalize the prototype of its VX4 aircraft, which is critical for the certification process. Also, the company has secured significant funding of $50 million from its Chief Executive Officer (CEO). EVTL aims to extend its operational runway into Q2 of 2025 to support its project. This funding aligns with its strategy to secure regulatory approvals and pre-orders for 1,500 VX4 aircraft.

The aircraft aims to carry four passengers and a pilot up to 60 miles, utilizing a lift plus cruise configuration. It features eight propellers for vertical flight and fixed wings for cruising. And, the VX4’s design prioritizes low sound levels and reduced operational costs.

Notably, EVTL has one of the lowest valuations (by market cap and stock price).

On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to theInvestorPlace.com Publishing Guidelines.

Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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