Why Joby Aviation Stock Was Pulling Back Today
Shares of Joby Aviation (NYSE: JOBY) were moving lower today after the maker of electric vertical takeoff and landing (eVTOL) vehicles held a follow-on stock offering last night.
Investors tend to dislike being diluted by additional equity offerings, and the offering also seemed to price lower than the company was aiming for.
As of 10:48 a.m. ET, the stock was down 11.1% on the news.
Source Fool.com
