Down 20% From Its 52-Week High, Is Now a Great Time to Buy Joby Aviation Stock?

Did you know that one of the hottest growth opportunities in the world right now is investing in electric vertical take-off and landing (eVTOL) aircraft, which can be used as air taxis? According to analysts at Grand View Research, the global market was worth roughly $1 billion in 2023, and it will grow to nearly $29 billion by the end of the decade. That averages out to a compound annual growth rate of approximately 55%.One of the leading companies in the eVTOL space right now is Joby Aviation (NYSE: JOBY). It's in the early innings of development and generates minimal revenue. It doesn't have the necessary certification to fly its aircraft just yet, but it should soon, perhaps as early as next year. There's huge potential for the business as it's establishing itself as a market leader in a rapidly growing market.Recently, Joby's stock has been declining, and it's now down close to 20% from its 52-week high of $20.95. The stock has still more than doubled this year, and given the hype in the eVTOL market, it may not go down a whole lot lower anytime soon. Could now be the ideal time to invest in Joby?Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool