Jim Cramer’s Latest Lightning Round: 11 Stocks to Watch

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

Number of Hedge Fund Holders: 15

Here’s what Cramer had to say about Joby Aviation, Inc. (NYSE:JOBY):

“Well, they just raised capital and that capital is gonna let them, you know, they’ve got enough money to be able to last for some time… I think they’re okay for now because of the 40 million shares that they sold at $5.05, and that’s not that far from here, but if it gets to $7, I would take the money and kaching kaching.”

Joby Aviation (NYSE:JOBY) is a vertically integrated air mobility company focused on developing electric vertical takeoff and landing (eVTOL) aircraft designed for air transportation as a service. Recently, the company announced the pricing of its underwritten public offering, which consists of 40,000,000 shares of common stock priced at $5.05 per share. This offering is projected to generate gross proceeds of approximately $202 million, excluding underwriting discounts and related expenses.

While the industry presents inherent risks due to its emerging nature, the company has positioned itself as a significant player through its technological advancements. Currently, the company has constructed three production prototype aircraft, and its certification plans are moving forward. Recently, the Federal Aviation Administration (FAA) has released operational rules and pilot training requirements for powered-lift aircraft, like those developed by Joby.

Joby Aviation (NYSE:JOBY) also achieved a significant milestone by receiving certification from the United Arab Emirates, making it the first electric air taxi to gain official recognition worldwide. In a recent announcement, Toyota committed $500 million to support Joby’s certification and commercial production efforts.