Why Joby Aviation Stock Is Sinking Today

Joby Aviation (NYSE: JOBY) stock is falling in Monday's trading. The flying electric vehicle company's share price was down 10.2% as of 1 p.m. ET.After an impressive rally, Joby Aviation's valuation is now falling as some investors are betting against the stock. Short-sellers are also placing bets against Joby's competitor Archer Aviation, and its stock is down 23.7% today as of this writing. Even with today's pullback, Joby's share price is still up roughly 65% over the last month. As early frontrunners in a speculative emerging industry, Joby Aviation and Archer Aviation have often seen their respective stocks make corresponding moves. In November, Needham published a bullish report on both companies and the broader flying taxi industry. Needham believes that the flying EV market is taking off and that key regulatory approvals will eventually arrive, paving the way for Joby and Archer to make the jump to product commercialization and rapid sales growth.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool