The electric vertical take-off and landing (eVTOL) market is in its early stages of growth and an exciting one to watch, as air taxis could revolutionize the way people travel and how cities operate.
Two leading companies in the industry working toward certifying their respective aircraft are Archer Aviation (NYSE: ACHR) and Joby Aviation (NYSE: JOBY)
At $3.7 billion in market cap, Archer is far smaller than Joby, whose valuation is north of $7.2 billion. While that’s a significant gap, it also comes with heightened expectations; Joby’s stock has been falling more significantly of late, as its valuation is coming under a bit more pressure. Ultimately, both companies have tremendous opportunities and risks.
Below, I’ll look at which one of these eVTOL stocks might be the better buy right now. The case for Joby Aviation Investors have been showing more faith in Joby Aviation’s business as it conducts test flights, and it’s clear to see the progress it’s making. Earlier this year, its aircraft flew in both New York and San Francisco, displaying the “operational readiness” of its air taxi.