The electric vertical take-off and landing aircraft (eVTOL) market is a tough one to invest in because it’s in such an early stage.
While there are multiple companies involved in the space and trying to convince investors they’re the real deals, it’s difficult, if not impossible, to predict which, if any, will lead the market in the next five to 10 years
Joby Aviation (NYSE: JOBY) is one of the promising players in the industry, and that’s evident with its sizable valuation. Its market cap is nearly $9 billion — more than double that of rival Archer Aviation. But investors have grown bearish about Joby’s stock of late, as it’s down more than 30% since the beginning of the year.
Trading at around $9, investors may be torn about where the eVTOL stock will be headed from here on out: is it more likely to get to $15 or $5 this year? Why has the bearishness taken over? Joby’s stock had been rising prior to the start of this year on the hope that its air taxis would soon commence operating activities.