Joby Aviation Inc - Ordinary Shares - Class A Stock News

Over the last several years, companies including Tesla, Rivian Automotive, and Nio were essentially synonymous with the term "electric vehicles." Each of these companies manufacture electric automobiles, which until recently were the primary form of transportation employing battery technology.

Joby Aviation (JOBY -6.05%), a developer of electric vertical takeoff and landing (eVTOL) aircraft, went public by merging with a special purpose acquisition company on Aug. 10, 2021. Its stock opened at $10.62 on the first day, but it only trades at around $9 as of this writing.

Looking at the stock charts of Joby Aviation (JOBY -6.05%) and Archer Aviation (ACHR -8.12%), you might think electric vertical takeoff and landing (eVTOL) vehicles are the next big thing.

Flying some 33% higher over the past year, shares of Joby Aviation (JOBY 3.33%) have gained more altitude than the S&P 500, which has climbed about 22%. Growth investors who have had the air taxi stock on their radars consequently may conclude that its recent ascent means it's unlikely to continue flying higher.

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They've been dropping like flies. In just the last 3 months, air taxi hopefuls Lilium Air Mobility and Volocopter filed for insolvency.

Shares of electric vertical take-off and landing (eVTOL) companies Archer Aviation Inc (NYSE: ACHR) and Joby Aviation Inc (NYSE: JOBY) are tumbling this morning after bearish notes from JPMorgan.

Joby Aviation raised substantial capital in Q4, boosting its cash access to $1.4 billion, and is progressing towards FAA certification and international expansion. The company is constructing facilities in Ohio and Dubai, with plans for a 4-vertiport network in Dubai, aiming for a 2025 launch. Investors should be cautious, as any FAA certification delays could impact the stock; consider holding...