Joby Aviation's third-quarter bottom-line performance is anticipated to have been significantly hurt by elevated operating expenses.
The company is selling additional shares to raise capital.
Joby Aviation Inc (NYSE:JOBY) stock is 13.3% lower to trade at $5.24 after the electric air taxi company priced an underwritten public offering of 40 million shares at $5.05 per share.
Electric vertical takeoff and landing vehicle startup Joby Aviation has launched a public offering to sell up to $200 million of its shares of common stock, per a regulatory filing.
Archer Aviation (ACHR) and Joby Aviation (JOBY) stocks have bounced back in the past few weeks as investors have embraced a risk-on sentiment in the market. JOBY jumped to a high of $6.25 on Tuesday, up by 37% above its lowest point this year.
U.S. federal authorities provided quite a significant lift for the company with a set of new standards and regulations.
As we turn the corner into the final few weeks of the year, there are not going to be many stocks offering the kind of upside that Joby Aviation Inc NYSE: JOBY is. What's interesting is that its outlook hasn't been this bullish in a while.
Quick flights will be here before you know it.
The aviation company got a shot in the arm from a strategic investor.
Joby Aviation lands $500M from Toyota as it races to launch flying taxis.
Joby Aviation (NYSE: JOBY) has received an additional $500 million investment from Toyota (NYSE: TM) to support certification and production of its electric air taxis. This brings Toyota's total investment in Joby to nearly $900 million.