Summary

• Joby Aviation continues to proceed towards a 2024 operations launch.
• The eVTOL manufacturer has obtained initial FAA certification with more certification necessary to launch operations.
• The stock has fallen over 50% off the SPAC deal close, but Joby has a $1.2 billion cash balance to fund the investment period.

Image Source: JobyAviation

While the market doesn't want to touch any company investing for the future, investors should actually start loading up on the corporations set to lead the next revolution. The key to such investing is buying companies with plenty of cash on hand to continue investing during a recession, and Joby Aviation (NYSE:JOBY) fits that bill. My investment thesis remains Bullish on the stock below $5 as the 2024 electric vertical take-off and landing (eVTOL) launch quickly approaches.
 

Future Is Approaching

The goal of Joby Aviation is to make an eVTOL 100x quieter than a helicopter with 25% of the costs of a traditional twin engine helicopter. Throw in safety improvements due to multiple engines and the air taxi market takes off from one not currently very feasible for most passengers.

When Joby originally announced the SPAC deal with LinkedIn co-founder Reid Hastings and Zynga co-founder Mark Pincus back in early 2021, the company and other sector players predicted a timeline with 2024 as the commercial launch. The time period was stretched, but we're now in the 2H of 2022 leaving ~2 years until the expected launch. The company has already obtained Part 135 Air Carrier certification from the FAA ahead of schedule.

Joby Aviation SPAC presentation

In the stock market, a couple of years can be an eternity. The once-promising market has seen stocks crushed due to a looming recession and a loss of faith in SPAC deals.

Read more at Seeking Alpha.

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