double_m
18 hours ago
Why Joby Aviation Stock Is Sinking Today
Keith Noonan, The Motley Fool
Mon, December 2, 2024 at 1:19 PM EST
Joby Aviation (NYSE: JOBY) stock is falling in Monday's trading. The flying electric vehicle company's share price was down 10.2% as of 1 p.m. ET.
After an impressive rally, Joby Aviation's valuation is now falling as some investors are betting against the stock. Short-sellers are also placing bets against Joby's competitor Archer Aviation, and its stock is down 23.7% today as of this writing. Even with today's pullback, Joby's share price is still up roughly 65% over the last month.
Short interest on Joby Aviation stock is increasing
As early frontrunners in a speculative emerging industry, Joby Aviation and Archer Aviation have often seen their respective stocks make corresponding moves. In November, Needham published a bullish report on both companies and the broader flying taxi industry. Needham believes that the flying EV market is taking off and that key regulatory approvals will eventually arrive, paving the way for Joby and Archer to make the jump to product commercialization and rapid sales growth.
Needham's bullish coverage helped power explosive gains for Joby and Archer over the last month, but some investors are now betting that both stocks will start coming back down to earth. Short interest on both stocks has been rising, and the uptick in bearish momentum is likely causing other investors to take profits on the heels of massive rallies.
What comes next for Joby Aviation stock?
Over the long term, Joby Aviation's stock performance will be determined by whether or not the company receives regulatory approvals and successfully scales its vehicle production and marketing operations. While the company has a highly growth-dependent and speculative valuation, the outlook on the regulatory front is fairly promising. The company recently completed a test flight in Japan and has received substantial investment from Toyota Motor, and it's also recently been scaling up its operational footprint in Saudi Arabia.
On the other hand, investors should keep in mind that progress toward commercialization could proceed at an uneven pace -- and setbacks could potentially lead to big sell-offs for the stock. Joby's share price will likely continue to be highly volatile in the near term. In addition to fundamental business news and short-selling and short-covering, the company's stock could see big swings in conjunction with coverage from analysts and shifting macroeconomic indicators. Investors should approach the stock with the understanding that it is a high-risk, high-reward play in an emerging product category.
https://www.yahoo.com/finance/news/why-joby-aviation-stock-sinking-181945432.html
double_m
4 weeks ago
Joby Reports Third Quarter 2024 Results
November 06 2024 - 4:05PM
Joby Aviation, Inc. (NYSE:JOBY), a next-generation aviation company, today issued its Third Quarter 2024 Shareholder Letter detailing the Companyβs operational and financial results for the period ending September 30, 2024. The company will host a live audio webcast of its conference call to discuss the results at 2:00 p.m. PT (5:00 p.m. ET) today.
Third Quarter 2024 Highlights:
First International Demonstration: We completed a number of exhibition flights at Toyotaβs Higashi-Fuji Technical Center in Japan, using our third production prototype aircraft which rolled off the production line less than three months prior.
Test and Certification: We reached a major landmark on our journey to type certification with the completion of our first FAA-conforming major sub-assembly, an aircraft tail. Our fourth production prototype is nearing completion and will join our flight test program shortly.
Regulatory Progress: Important progress was made with regulators in each of our targeted launch markets. In the U.S., we welcomed the publication of new operating regulations that lay the groundwork for the launch of commercial operations.
Toyota Investment: Building on nearly seven years of collaboration, Toyota committed to investing an additional $500 million in Joby, as part of an agreement that includes plans to establish a manufacturing alliance.
Strong Financial Foundation: At the end of the third quarter of 2024, we maintained a strong balance sheet with $710 million in cash and short-term investments. This balance does not include the approximately $222 million raised through a follow-on equity offering completed in October 2024 or the expected Toyota investments totaling $500 million.
Third Quarter Financial Results Webcast Details:
What: Joby Third Quarter 2024 Financial Results Webcast
When: Wednesday, November 6, 2024
Time: 2:00 PM PT (5:00 PM ET)
Webcast: Upcoming Events (https://ir.jobyaviation.com/news-events/ir-calendar) section of the company website (www.jobyaviation.com).
If unable to attend the webcast, to listen by phone, please dial 1-877-407-9719 or 1-201-378-4906. A replay of the webcast will be available on the company website following the event.
https://ih.advfn.com/stock-market/NYSE/joby-aviation-JOBY/stock-news/94853549/joby-reports-third-quarter-2024-results
Citrati
2 months ago
Statistical information.
https://stockanalysis.com/stocks/joby/statistics/
"After the investment, which will come in two equal tranches later this year and next, Toyota will own about 22% of Joby's outstanding shares. βToday's investment builds on nearly seven years of collaboration between our companies,β said JoeBen Bevirt, founder and CEO, Joby Aviation."
19.87% is held by retail investors at present.
Large shareholders of JOBY stock include:
As of June 30, 2024, Vanguard Group Inc. owned 39,278,606 shares of Joby
Baillie Gifford & Co. 52,869,559 shares
Capricorn Investment Group Llc: 40,360,591 shares
Blackrock Finance, Inc. 28,522,496 shares
8Vc Gp I, Llc: 14,395,000 shares
Delta Air Lines, Inc. 11,044,232 shares
Geode Capital Management, Llc: 8,719,868 shares
State Street Corp. 8,560,388 shares
Morgan Stanley: 4,545,075 shares
Ieq Capital, Llc: 4,441,574 shares