Joby Aviation Stock Stalls After Public Offering
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. JOBY is pacing for its worst single-session percentage drop since July 2023, and is now down 22% in 2024, though there's support from the $5.10 level in place.
Joby's air taxi dreams soar closer to reality with public stock offering
Unlike other developers of electric vertical take-off and landing (eVTOL) aircraft, the Santa Cruz-based Joby sees itself as airborne taxi service, offering a ride-hailing app for customers to book Joby's air taxis. Joby's eVTOLs have one pilot and can seat up to four people.
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