Joby Aviation Inc. (NYSE:JOBY) is flying high — both in the skies and on Wall Street.
Fresh off a sizzling 43.49% jump in the past month, Joby shares continue to show bullish momentum, riding above key moving averages like a high-flying drone above city traffic. The stock was up over 2.44% by 9:40 AM ET on the news.
Read Also: Joby Aviation Completes Key Aerostructure Tests For FAA Certification
FAA Milestone: A Tail Of Success
In a significant step toward getting its electric air taxis off the ground commercially, Joby announced it has completed for-credit static load testing of its tail structure with the Federal Aviation Administration (FAA). This marks the first time a major aerostructure from Joby's revolutionary aircraft has been tested with FAA representatives present—a key checkpoint in the rigorous certification process.
During these tests, Joby engineers pushed the tail structure to endure forces far exceeding those expected in real flight scenarios, all under the FAA's watchful eye. This milestone signals progress not only for Joby's aircraft certification but also for the broader vision of quiet, zero-emission urban air mobility.
Charting The Course: Joby's Stock Signals
Joby's technical indicators paint an optimistic picture for investors.
Chart created using Benzinga Pro
With Joby stock at $8.02, the stock remains above its 20-day and 50-day simple moving averages, reinforcing a bullish signal. The Moving Average Convergence Divergence (MACD) indicator at 0.49 adds to the bullish sentiment, while the Relative Strength Index (RSI) at 57.48 suggests the stock isn't overbought—yet.
However, a slight dip below the 8-day simple moving average of $8.17 flashes a cautionary Sell signal, hinting at potential short-term volatility.
Elevating The Future Of Urban Mobility
Joby's electric air taxi, designed to transport up to four passengers at speeds of 200 mph, aims to redefine urban travel. With zero operating emissions and a noise profile leagues quieter than helicopters, Joby's air taxis could soon be the Uber of the skies—pending FAA certification.
As Joby's stock continues to rise, the FAA milestone not only validates its engineering prowess but also fuels investor confidence in its transformative potential. With its sights set high and momentum strong, Joby Aviation is proving it has what it takes to land big wins in both the skies and the markets.
- Joby's Electric Air Taxi Lands In Microsoft Flight Simulator 2024, Here's How You Can Fly It
Image: Courtesy of Joby Aviation, Inc.