Joby Aviation Stock: Is It More Likely to Hit $15 or $5 This Year?
Joby's stock is down nearly 60% from its 52-week high.
Overview
The electric vertical take-off and landing aircraft (eVTOL) market is a tough one to invest in because it's in such an early stage. While there are multiple companies involved in the space and trying to convince investors they're the real deals, it's difficult, if not impossible, to predict which, if any, will lead the market in the next five to 10 years.
Joby Aviation (NYSE: JOBY) is one of the promising players in the industry, and that's evident with its sizable valuation. Its market cap is nearly $9 billion -- more than double that of rival Archer Aviation. But investors have grown bearish about Joby's stock of late, as it's down more than 30% since the beginning of the year. Trading at around $9, investors may be torn about where the eVTOL stock will be headed from here on out: is it more likely to get to $15 or $5 this year?
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Originally published at www.fool.com.