Archer, Joby Stocks Surge As FAA Finalizes Air Taxi Rules: Retail Sentiment Reaches New Highs

Shares of Archer Aviation Inc ($ACHR) and Joby Aviation Inc ($JOBY) surged on Tuesday afternoon after the U.S. Federal Aviation Administration (FAA) finalized its final training and pilot certification rules for flying ‘powered lift’ vehicles or eVTOLs.

Joby Aviation’s stock is up by 12% while Archer has jumped nearly 7% during the intraday trading.

An EVTOL, or electric vertical take-off and landing, aircraft is a hybrid mix of airplanes and helicopters. 
According to the FAA, these vehicles will be the first entirely new category of aircraft in nearly 80 years since helicopters were introduced in 1940.

These aircraft will be used for a variety of services, including air taxis, cargo delivery, and rescue and retrieval operations.

Numerous startups, including Joby Aviation and Archer, are planning on launching commercial air taxi services with these new types of aircraft in the next few years.

Retail sentiment on Stocktwits around Archer has flipped to ‘extremely bullish’ (89/100) from ‘bearish’ a day ago.

The company could use the good news with its stock losing 32% of its value in the last 12 months and share prices down 44% so far in 2024.

Meanwhile, retail sentiment around Joby Aviation has jumped into the ‘extremely bullish’ (89/100) territory from ‘bullish’ a day ago. Users on the platform are eagerly waiting for the company to share its reaction to the news.

Delta Air Lines ($DAL) has invested $60 million in Joby, forming a partnership to provide air taxi services for passengers traveling to and from airports in New York and Los Angeles within the next few years. This investment follows Toyota's recent $500 million stake in Joby.

Joby Aviation’s shares have gained 8% in the last 12 months. 

For updates and corrections email newsroom@stocktwits.com.

Read More: General Motors Stock Climbs After Earnings Beat, Raised Guidance: Retail Sentiment Still Bearish

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