Jim Cramer Recommends Selling These 5 Stocks

3. Joby Aviation, Inc. (NYSE:JOBY)

Number of Hedge Fund Holders: 30   

Joby Aviation, Inc. (NYSE:JOBY) is an air mobility firm. Cramer gave the stock a Sell recommendation during the Lighting Round of his show on June 2. Cramer was sarcastic in his reply to a question about his views on the firm. He remarked, “You think it is time for flying cars?” and suggested that viewers should sell the stock.  

On April 28, JPMorgan analyst Bill Peterson initiated coverage of Joby Aviation, Inc. (NYSE:JOBY) stock with a Neutral rating and a price target of $7, noting that the early leadership of the firm in the EV space was generally reflected in the stock.

At the end of the first quarter of 2022, 30 hedge funds in the database of Insider Monkey held stakes worth $79 million in Joby Aviation, Inc. (NYSE:JOBY), compared to 23 in the preceding quarter worth $134 million.