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-0.000379867046533671 0.000949667616334263 0 -0.00759734093067427 -0.0170940170940171 -0.0218423551756885 -0.0208926875593543 -0.0313390313390313
Stock impact report

Why Joby Aviation Stock Is Losing Altitude Today [Yahoo! Finance]

Joby Aviation, Inc. (JOBY) 
Company Research Source: Yahoo! Finance
Investors had a negative reaction to the news, sending Joby shares down 14% as of 10:15 a.m. ET. Joby is one of a handful of companies attempting to commercialize small electric aircraft capable of vertical takeoffs and landings, or eVTOLs. Proponents envision these small vehicles one day flying over traffic backups and connecting people living in outer suburbs to major airports. But the technology is still unproven, and the path to regulatory certification is long. Joby is further along than most, but still faces massive future expenses as it works to secure approval and ramp up manufacturing. Late Thursday, Joby announced plans to sell 40 million additional shares of its common stock at $5.05 apiece. The deal, which includes an underwriter option to purchase additional shares, would raise the company $202 million after expenses. Joby said it intends to use the proceeds to fund its certification and manufacturing efforts, prepare for commercial operations, and for general wo Show less Read more
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