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Joby Aviation Shares Plummet Amid Bearish Analyst Sentiment and Certification Delays
Joby Aviation Shares Plummet Amid Bearish Analyst Sentiment and Certification Delays
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BTCCSquare news:
Joby Aviation's stock (JOBY) nosedived 9.3% intraday after H.C. Wainwright and peers downgraded the eVTOL developer, citing prolonged FAA certification timelines. The company reported negligible revenue of $15,000—a 46% YoY decline—while burning cash to complete 70% of regulatory requirements.
Progress milestones like 21 test flights in Dubai and a defense sector collaboration with L3Harris failed to offset concerns. The selloff reflects Wall Street's growing impatience with pre-revenue aerial mobility plays, even as Joby expands its California production facility.
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