Is Joby Aviation Stock a Millionaire Maker?
Joby Aviation (NYSE: JOBY), a developer of electric vertical takeoff and landing (eVTOL) aircraft, probably hasn't minted any new millionaires since its public debut. Its stock opened at $10.62 after it went public by merging with a special purpose acquisition company (SPAC) nearly four years ago, but it only trades at about $11 as of this writing.
Joby's stock didn't take off because it barely generated any revenue, it was racking up steep losses, and it traded at sky-high valuations. Elevated interest rates, tariffs, and other macro headwinds made its stock even less appealing. But could this speculative eVTOL stock finally take off and deliver millionaire-making returns?
Image source: Joby Aviation.
Source Fool.com
