Joby Aviation (JOBY) Soars 48% on Aggressive Expansion
We recently published 10 Stocks With Unbelievable Gains This Week. Joby Aviation, Inc. (NYSE:JOBY) is one of this week’s biggest players.
Joby Aviation soared by 47.67 percent week-on-week to close at $17.78 versus the $12.04 finish on July 11, as investor confidence was boosted by its aggressive expansion plans.
In a statement earlier last week, Joby Aviation, Inc. (NYSE:JOBY) announced that it was underway with the expansion of its facilities in Dayton, Ohio and Marina, California, to accommodate the targeted annual production of 500 and 24 aircraft, respectively.
The facilities form part of Joby Aviation, Inc.’s (NYSE:JOBY) four total manufacturing sites, with the two others located in Santa Cruz, California.
According to Joby Aviation, Inc. (NYSE:JOBY), the Marina expansion will also provide other key capabilities, including initial FAA production certification, conforming ground and flight testing components, pilot training simulators, and aircraft maintenance, among others.
Jirat Teparaksa/Shutterstock.com
Based on its historical reporting dates, Joby Aviation, Inc. (NYSE:JOBY), a company heavily backed by giant carmaker Toyota Motors, is expected to release the results of its second quarter earnings performance in the first week of August 2025.
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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
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