Should You Buy Joby Aviation Stock While It's Below $10?

Joby Aviation (NYSE: JOBY), a developer of electric vertical takeoff and landing (eVTOL) aircraft, hasn't impressed many investors since its public debut. It went public by merging with a special purpose acquisition company (SPAC) on Aug. 10, 2021, and the combined company's stock opened at $10.62. But today, it trades at about $8.Joby disappointed its investors by missing its own estimates. It also faced stiff competition from other eVTOL makers as rising rates compressed its valuations. But of the nine analysts who cover the stock, five rate it as a buy, three rate it as a hold, and only one rates it as a sell. Its average price target sits at $7.47, while its highest price target has been set at $10.We should always take analysts' estimates with a grain of salt, but is it a good idea to buy Joby's stock while it's still hovering below $10?Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool