Joby eVTOL production, air taxi targets mocked by hedge fund
Will Joby become the Tesla of futuristic electric takeoff and landing craft (eVTOL) and operator of sustainable air taxi services while having to battle the kind of ferocious nay-saying that Elon Musk did? In some was it already has, after attracting the unwanted attention of a hostile hedge fund that’s reinforcing its short positions on the company’s stock by circulating in-house research dramatically decrying the activity and revenue targets Joby presented to its investors as utterly unattainable.
Meet Bleeker Street Capital, an activist hedge fund currently blaring its seriously skeptical message about Joby’s ability to produce the number of eVTOL planes it will need to facilitate the booming air taxi traffic business has predicted in coming years. To do so, the firm’s self-described “journalistic arm,” Bleeker Street Research, produced a lengthy report titled “Joby Aviation (JOBY): ‘Uber Meets Tesla In The Sky’ Is Set To Crash And…