Why Joby Aviation Stock Jumped 86% in November
Shares of Joby Aviation (NYSE: JOBY) were soaring last month as optimism grew for the electric vertical takeoff and landing (eVOTL) industry.
The primary catalyst appeared to be a buy rating from Needham, which helped legitimize the development-stage sector that also includes Archer Aviation. Joby still does not generate material revenue, and the airborne vehicles, which are similar to advanced helicopters, have yet to be commercialized, though Joby is aiming to do so in 2025.
In October, the FAA also cleared the way for the new vehicles to take flight, issuing a new set of regulations for the eVTOLs to be integrated into the aviation system. As a result, the stock finished the month up 86%, according to data from S&P Global Market Intelligence.
Source Fool.com
