Shares of Joby Aviation, Inc. (JOBY) soared 6.47% in intraday trading on Friday, as the electric vertical takeoff and landing (eVTOL) aircraft company gained investor interest amid growing excitement around the emerging urban air mobility market.
The rally in Joby's stock price comes as a recent article from The Motley Fool highlighted the rising interest in eVTOL stocks, particularly Joby Aviation and its competitor Archer Aviation (ACHR). According to the article, these companies are leading the charge in developing innovative eVTOL technology, which has the potential to disrupt the urban transportation market.
While eVTOL aircraft are still in the development stage and have yet to be commercialized, the article notes that the technology has gained approval from the Federal Aviation Administration (FAA) with new safety regulations. This regulatory support is seen as a positive step towards the eventual deployment of eVTOL vehicles for urban air mobility services.
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