Long Position on JOBY @ $6.05 on 2/16/2022 (Momentum)

Joby Aviation, Inc. (JOBY), an electric mobility company, engages in building an electric vertical takeoff and landing passenger aircraft optimized to deliver air transportation as a service. It intends to build an aerial ridesharing service. 

Shares rose yesterday on two developments for the company. Stock broke out of it's bullish "cup and handle" and claimed its's 50 day moving average.

Joby Aviation is partnering with Japanese airline ANA to bring aerial ridesharing services to Japan. Toyota Motor Corporation will be partnering with the two companies,  in order to explore ways to connect the air taxis to ground-based transportation. Joby announced last week it plans to launch an air taxi service in South Korea in partnership with SK Telecom.

Toyota also announced it invested $400 million in Joby. The carmaker said it will support air taxi service by helping with ground-based transportation that may be needed before and after flights. The company reports February 24th.

Entry Point: $6.05

Stop loss: $5.50

Trading Range: $3.61 to $17.00

Target Price: $7.00

Position closed on 2/17/2022 at price of $5.50 with a -9.09% loss in 1 days.

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