Jim Cramer on Joby: “They’re Losing Too Much Money”

“No, they’re losing excessively overmuch money, buddy. I perfectly emotion the idea, but they’re losing excessively overmuch money. We already got a happening called helicopters, and that does america conscionable fine.”

Pixabay/Public Domain

Joby Aviation, Inc. (NYSE:JOBY) designs and makes electrical vertical takeoff and landing craft for usage successful aerial ridesharing. The institution is besides processing a related app. Cramer discussed the company’s banal during the October 8 occurrence and commented:

“It’s the speculative stocks that punctual maine of the dot-com era, a radical of companies with nary net to talk of that request to rise wealth to enactment afloat. Now, we spot these successful atomic powerfulness oregon crypto, oregon quantum computing stocks. These person each been bid up furiously by retail investors… I fearfulness we’re astatine the cusp of immoderate gigantic equity offerings for immoderate kinds of these companies. We got 1 connected Monday from an also-ran quantum institution called Quantum Computing, and different 1 contiguous from Joby Aviation, the flying car company. It offered 30.5 cardinal shares of caller banal astatine $16.85 per share. It closed up from the woody $17.37, but mode down from the astir $19 terms of yesterday’s close. That’s brutal and precise 2000-ish.”

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Disclosure: None. This nonfiction is primitively published astatine Insider Monkey.