Why Joby Aviation Stock Is Losing Altitude Today
Joby Aviation(JOBY) The Motley Fool·2024-10-25 15:25The company is selling additional shares to raise capital.Joby Aviation (JOBY -12.33%) is selling additional shares to add to its cash coffers, meaning each existing share is worth a little less today than it was yesterday.Investors had a negative reaction to the news, sending Joby shares down 14% as of 10:15 a.m. ET.Raising additional cashJoby is one of a handful of companies attempting to commercialize small electric aircraft capable of vertical takeoffs and landings, or eVTOLs. Proponents envision these ...