JOBY: Air Mobility Stocks Climb as U.S. Launches Flying Taxi Initiative
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June 9 - President Trump signed an executive action to establish an electric Vertical Takeoff and Landing integration pilot program on Friday, selecting at least five projects to advance eVTOL uses like cargo transport and medical response.
Shares of flying taxi stocks responded sharply in early Monday trading. Joby Aviation (NYSE:JOBY) surged about 8%, while Archer Aviation (NYSE:ACHR) climbed about 9%. Blade Air Mobility (NASDAQ:BLDE) jumped about 2%. Vertical Aerospace Ltd. (NYSE:EVTL) soared about 11%. Eve Holding (NYSE:EVEX) edged about 2%, and Surf Air Mobility (NYSE:SRFM) inched about 2%.
Earlier in the week, Archer Aviation flew its piloted Midnight eVTOL as part of certification and commercialization efforts in the U.S. and UAE. Joby Aviation signed a deal with Abdul Latif Jameel to distribute up to 200 four-passenger eVTOL aircraft in Saudi Arabia. Blade Air Mobility partnered with Skyports to expand helicopter and future eVTOL transfer services in New York City.
The pilot program may speed regulatory approvals and boost operational testing. However, companies likely face hurdles in scaling production and securing airspace approvals. Investors will be watching whether these moves translate into sustainable growth.
This article first appeared on GuruFocus.