Why Joby Aviation Shares Fell in January
January was a tough month for a lot of speculative, unprofitable stocks, but Joby Aviation (NYSE: JOBY) fared worse than most. Shares of the air taxi developer fell more than 43% for the month, according to data provided by S&P Global Market Intelligence, as mounting competition and a tepid analyst report caused investors to head for the exits.
Joby is one of a number of companies developing electric airplanes capable of vertical takeoffs and landings, or eVTOLs. There is certainly a potential market for a vehicle that can overfly traffic jams and offer a green alternative for short flights, but also a lot of uncertainty as to when the market will develop.
Joby's aircraft. Image source: Joby Aviation.
Source Fool.com
