Why Joby Aviation Stock Just Popped 12%

·2-min read
Why Joby Aviation Stock Just Popped 12%

Shares of topsy-turvy air taxi stock and former special purpose acquisition company play Joby Aviation (NYSE: JOBY) took flight in Thursday-morning trading, rising 12.3% through 10:50 a.m. EDT. You can thank Morgan Stanley for that. In a note out this morning, investment banker Morgan Stanley initiated coverage of Joby stock with an overweight rating (which doesn't sound like it, but is actually a compliment) and a $16 price target.

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