Keep an eye on flying car stocks.
The Federal Aviation Administration just issued new rules for flying and operating electric vertical takeoff and landing (eVTOL) air taxis. It was also the missing piece needed for air taxis to start commercial operations in the U.S.
“The FAA will continue to prioritize the safety of our system as we work to seamlessly integrate innovative technology and operations,” said Mike Whitaker, an FAA administrator. “This final rule provides the necessary framework to allow powered lift aircraft to safely operate in our airspace.”
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With that, investors may want to keep an eye on flying car stocks, such as: Over the last few days, shares of JOBY soared from about $5.50 to a high of $6.60. From here, it could rocket to higher highs, especially with the new FAA rules. Helping, analysts at H.C. Wainwright initiated a buy rating on the stock with a price target of $9. “H.C. Wainwright believes the company is moving to a near-term production target of one aircraft per month by the end of 2024,” added Seeking Alpha. Even better, Toyota invested another $00 million in JOBY. “The investments into Joby by Toyota reflect the carmaker’s commitment to developing air mobility for personal travel, as Toyota engineers work alongside Joby to achieve their shared goal. In addition to financial support, Toyota has also supplied Joby with key powertrain and actuation components for the production of Joby aircraft,” noted Seeking Alpha. |
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Company: Archer Aviation (SYM: ACHR) Archer Aviation (SYM: ACHR) is also slowly taking flight on the new FAA rules. For one, Archer has already launched commercial sales with the delivery of a Midnight plane to the USAF as part of the $142 million AFWERX Agility Prime contract deal. Two, the company announced an order book of $6 billion. Three, United Airlines is a key backer of ACHR with an order for 200 aircraft that could be worth about $1 billion, with an option for $500 million more. |
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