JOBY - Joby Aviation Short Report - Kerrisdale Capital Highlights Feasibility Safety Concerns Over $5B Valuation (UPDATED) | Benzinga
Editor's note: This story has been updated with comment from Joby Aviation on a short report.
Joby Aviation Inc (NYSE: JOBY), a $4.8 billion developmental stage aircraft manufacturer, has been critiqued for its ambitious goals, which could be far from realization. Kerrisdale Capital Management is short shares of Joby Aviation.
Joby promises of revolutionizing urban transportation with its electric vertical-take-off-and-landing (eVTOL) planes face serious questions around feasibility, energy consumption, production capability, and safety.
Joby Aviation has envisioned a future where thousands of eVTOL planes, designed for journeys between 5 to 150 miles, dominate the urban skies.
However, skeptics argue that the company's claims might not align with the laws of physics and economics.
A Joby spokesperson told Benzinga Tuesday the company is aware of the Kerrisdale report.
"These statements were published by a company that has a ...