On August 12, Joby Aviation, Inc. fell 5.17% in regular trading, trading at $7.985/share, with turnover of $173 million.
On the news front, the company's previously reported Q2 earnings showed a per-share loss of $0.25, missing the FactSet consensus estimate of a $0.23 loss by 8.7%. While revenue of $38.6 million significantly beat the $30.2 million estimate, the wider-than-expected loss drew investor concern. Additionally, the company announced plans to acquire defense technology firm Resonant Sciences for approximately $500 million, intensifying worries over cash consumption for a pre-revenue-stage eVTOL developer. Short interest had already been accumulating ahead of the earnings release, with implied volatility reaching 11.75%, and bearish positioning has continued to pressure the stock following the disappointing bottom-line result.
Joby Aviation is an electric vertical takeoff and landing aircraft developer working with the FAA on commercial operations certification, having completed two of five type certification stages.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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