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Joby Aviation, Inc. (JOBY) surged in the current market; here is why?

Joby Aviation, Inc. (JOBY) stock significantly increased in the current market after announcing the release date for its Q4 and fiscal 2021 results. JOBY’s stock price is $5.98, representing an increase of more than 12% over yesterday’s closing price. At the end of the most recent trading session, JOBY stock had reached $5.33. According to the most recent available data, JOBY stock traded 7.04 million shares in the previous trading session. JOBY’s current market cap is around $3.22 billion.


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JOBY: FY2021 Results Date

Joby Aviation, Inc. (JOBY) announced in a press release that its management would hold a webcast call to announce its fourth quarter and fiscal 2021 results today. Joby Aviation, Inc. (JOBY) management will hold a webcast call today, Friday, March 25, 2022. The time of the webcast call will be 2.00 p.m. Eastern Time or Pacific Time is 5.00 p.m.

JOBY is Back Flying  

Joby Aviation, Inc. (JOBY) has begun unpiloted flying tests of a prototype aircraft that was previously suspended. Joby had to put its electric aircraft out of service for more than a month following an accident.

The business is currently putting its second pre-production prototype through its paces. They are flying the same vehicle that was severely damaged in a crash during a test flight in Jolon earlier this month, and they are flying it out of their pilot production plant in Marina this time.

JOBY: Q3 Highlights

  • Its net loss was $78.86 million or a 181% decline in profitability.
  • If we look at the balance sheet, it had cash and cash equivalents of $1.02 billion as of Q3 2021.

Conclusion

The company will announce its results today, but the company is a pre-revenue company. Its investors are not interested in the financials right now. They care more about the performance. They would certainly look forward to what the company has archived in fiscal 2021.

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