Why Joby Aviation Stock Is Soaring Today
Shares of Joby Aviation (NYSE: JOBY) are rising on Wednesday, up 13.2% as of 12:54 p.m. ET. The jump comes as the S 500 and Nasdaq Composite were both down modestly.
Joby, which develops electric vertical takeoff and landing (eVTOL) aircraft, announced yesterday that it will double production in its Marina, California, manufacturing site.
Joby expanded its domestic production site in California to scale up its production capabilities ahead of the planned 2026 launch of its air taxis. The site now spans 434,500 square feet, allowing the company to produce up to 24 aircraft a year once it is fully operational. The site will also host the company's pilot simulators and will be its primary aircraft maintenance facility.
Source Fool.com
