Why Joby Aviation Stock Flew Higher Today
It's been a difficult year for electric vertical takeoff and landing (eVTOL) company Joby Aviation (NYSE: JOBY), and despite today's more than 5% increase, the stock is still down more than 37% year to date. That said, the recent second-quarter results and news flow are positive for the stock, and it's no surprise to see it bouncing today.
As readers already know, the eVTOL market is surprisingly diversified, with some companies (Archer Aviation) following an original equipment manufacturer (OEM) model, others (Boeing's Wisk) following an all-autonomous eVTOL model. Then there's Joby's vertically integrated transportation-as-a-service (TaaS) model.
In addition, Joby is largely developing its own technology, although it has significant investment from Toyota, with the auto giant also working with Joby to help scale eVTOL production.
Source Fool.com
