![]() Despite these gains, I suspect that the shares will likely resume the downward trend. Joby’s stock is still above all moving averages, signaling that buyers are in control. ![]() In price action analysis, this pattern is usually a bullish sign, which explains why the stock jumped. As it jumped, the shares formed a cup and handle pattern. The daily chart shows that the Joby Aviation share price has been in a strong bullish trend in the past few months. Joby Aviation stock price forecast Copy link to section Also, the company still has an unproven business model. Indeed, analysts expect it to break even in 2029. ![]() I expect that the firm will need to raise additional capital in the next few years. On Wednesday, the company received a FAA certificate for its first prototype.ĭespite all this news, I believe that Joby Aviation is grossly overvalued considering that its market cap has jumped to over $4 billion. Most importantly, Joby’s certification by the FAA is going on well. The first two aircraft are expected to be delivered in the first half of next year. It now has a contract whose value could jump to $131 million in the next few years. Investors have also cheered the company’s business with the Department of Defense. That capital raise happened at an ideal period when the Joby stock price was rising. As a result, the company decided to raise over $180 million through a secondary offering. These losses are expected to continue in the foreseeable future. Its net loss has jumped from $114 million in 2020 to over $309 million in the past four quarters. That is a strong number for a company that has been burning cash in the past few months. The most recent financial results showed that the company had over $1 billion in cash in its balance sheet. In this period, the firm has spent billions of dollars. The company has spent the past few years building its electric vertical takeoff and landing (eVTOL) products. Joby Aviation is a company that aims to disrupt the transport industry. Is JOBY a good investment? Copy link to section The shares jumped to $9 on Wednesday, ~185% above the lowest level in January. Joby Aviation (NYSE: JOBY) stock price has been a breakout star this year as investors cheer the upcoming launch, its DoD contract, and its first-mover advantage in the industry.
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