Joby Aviation (JOBY, Financial), a leader in the global air taxi sector, has successfully completed crucial aircraft structure tests, marking significant progress towards obtaining FAA certification. The California-based company conducted static load tests on the tail section of its aircraft, with FAA representatives present, providing essential data for the aircraft's model certification. Didier Papadopoulos, Joby's OEM President, expressed satisfaction with the results, highlighting the importance of this milestone in the certification process.
Before the U.S. stock market opened on Tuesday, Joby Aviation's stock rose by 3.26% to $8.24. The stock has gained 20% this year, underperforming compared to the S&P 500 Index. Short interest in Joby accounts for 9.9% of its total outstanding shares.
