Joby Aviation Doesn't Need Immediate Cash, Don't Panic
Joby Aviation continues to proceed towards 2024 operations launch. The company filed a shelf registration to raise up to $1.0 billion, but the eVTOL manufacturer already has a cash balance of $1.2 billion. The stock isn't fully appreciating the business opportunity in the future. This idea was discussed in more depth with members of my private investing community, Out Fox The Street. Learn More » The flying taxi future appears bright, but firms like Joby Aviation ( NYSE: JOBY ) will spend billions over the next few years to certify and produce new aircraft. The good news for investors is that the eVTOL (electric vertical take-off and landing) manufacturer has plenty of cash to produce aircraft and start operations making the selloff following the proposal of selling securities as irrational. My investment thesis remains Bullish on the stock, as the company gets closer to FAA certification. Read the full article on Seeking Alpha. D...