Joby Aviation Stock: Buy, Sell, or Hold?
Joby Aviation (NYSE: JOBY), a developer of electric vertical takeoff and landing (eVTOL) aircraft, went public by merging with a special purpose acquisition company on Aug. 10, 2021. Its stock opened at $10.62 on the first day, but it only trades at around $9 as of this writing. It didn't attract much interest because it was barely generating any revenue and racking up steep losses. Rising interest rates also drove many investors toward more conservative investments.
But could Joby actually be a good long-term play on the nascent eVTOL market at these levels? Let's review the bearish and bullish arguments to decide.
Image source: Joby Aviation.
Source Fool.com
