Joby Aviation (JOBY) Skyrockets 11.76% on Air Taxi Take-Off
Joby Aviation jumped by 11.76 percent on Monday to finish at $10.55 apiece following the successful takeoff test of its air taxi in Dubai.
In a statement, the Toyota-backed company said that it successfully completed a series of piloted, vertical-takeoff-and-landing wingborne flights in Dubai, marking the start of its commercial market readiness efforts in the region.
According to Joby Aviation, Inc. (NYSE:JOBY) its aircraft is designed to transport a pilot and up to four passengers at speeds of up to 200 mph, with minimal noise and zero operating emissions.
A futuristic electric vertical takeoff and landing aircraft soaring through the sky.
Upon full operations, Joby Aviation, Inc. (NYSE:JOBY) aims to introduce its commercial service at Dubai International Airport (DXB), Palm Jumeirah, Dubai Marina, and Dubai Downtown, with a designated takeoff and landing area already underway. Travel time between Dubai airport and Palm Jumeirah is also expected to reduce to only 12 minutes from 45 minutes at present.
While we acknowledge the potential of JOBY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
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