Archer Aviation (NYSE: ACHR) stock is seeing big sell-offs in Tuesday's trading. The electric vertical takeoff and landing (eVTOL) aircraft specialist's share price declined 9% in a session that saw the S&P 500 index's level wind up flat and the Nasdaq Composite index fall 0.

Air-taxi maker Archer Aviation said on Tuesday it has raised $300 million in a funding round that consisted of institutional investors including accounts managed by BlackRock .

Archer Aviation's recent $300 million equity raise supports its commercialization path. Read why I maintain my buy rating for ACHR stock.

The electric vertical takeoff and landing (eVTOL) aircraft industry is approaching commercialization in late 2025, promising to revolutionize transportation in urban areas and beyond. Morgan Stanley, a top investment bank, estimates the eVTOL market could reach trillions of dollars by mid-century, creating a powerful investment trend.

Start-up Archer Aviation will now have access to about $1 billion to work on an electric vertical-take-off-and-landing vehicle.

Electric vertical takeoff and landing aircraft company Archer Aviation Inc. announced today that it has raised $300 million in new funding via an equity capital raise. The $300 million in funding, raised through a securities purchase agreement,