Why Joby Aviation Crushed the Market Today

The U.S. federal government provided quite a strong tailwind for Joby Aviation (NYSE: JOBY) on Tuesday, and thanks to that, the company's shares gained quite a bit of altitude that day. They climbed nearly 13% higher in price on the news, and in doing so, they trounced the essentially flat-lining S&P 500 index.That day, the Federal Aviation Administration (FAA) introduced an official new category of air transport under its jurisdiction that it's calling powered lift. That includes services such as cargo delivery and passenger air taxi, the segment in which Joby specializes with its purpose-designed electric vertical take off and landing (eVTOL) aircraft. In making the move, the FAA -- best known as the federal regulator of the airline industry -- has finalized the qualifications and trainings that both instructors and pilots are expected to obtain. It also stipulates numerous requirements for the operations of such machines. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool