Is Joby Aviation Stock a Millionaire Maker?
The electric vertical takeoff and landing (eVTOL) market has the potential to be huge. Flying air taxis could ease congestion in major cities and be an exciting new way for people to get around. Getting in early and investing in up-and-coming companies in the space may lead to significant returns later on.
Joby Aviation (NYSE: JOBY) is one of the big, early players in the eVTOL space today. Its market cap is around $9 billion, but its valuation has been coming down; this year, its shares have fallen by 30% and are down about 56% from their 52-week highs. With a reduced price and tremendous growth prospects, could an investment in this promising eVTOL stock one day grow to be worth $1 million?
Image source: Getty Images.
Source Fool.com
