Keep an eye on flying car stocks, we said in late October.
At the time, 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.”
| 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, we added. Today, JOBY is up to $7.99 and flying higher. All thanks to growing optimism over the idea of flying car ownership. Plus, analysts at Needham just reiterated a buy rating with a price target of $8, citing the company’s potential to capture a good amount of market share in the emerging air taxi industry. |
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| Company: Archer Aviation (SYM: ACHR) Archer Aviation (SYM: ACHR) is even hotter. When we last mentioned ACHR in late October, it traded at around $3.15. We also noted, “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.” Today, with industry excitement soaring, ACHR is up to $7.48. Helping, the company is expected to help lead the way in. what could be a $9 trillion flying taxi market, says Guru Focus. |
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