Fickle Wall Street: Publicly traded drone, AAM companies grapple with stock delisting warnings
Like most successful startups that preceded them, many drone companies – and above all, the advanced air mobility (AAM) aircraft developers first inspired by UAVs – factored in stock flotations as an essential source of their financing (and possibly self-perceptions as leading sector forces). Now, however, some are finding being traded on Wall Street can generate as much distraction and drag as it has capital to soar from.
Likely because of the greater volumes of investment required to develop their aerial tech, AAM companies have relied on stock flotations for funding in far greater numbers than their drone peers (Joby, Archer, Eve, and Vertical, to name a few). But publicly traded startups in both activities have had to deal with the vexing vagaries of investor enthusiasm since their IPOs – often downward fluctuations that have led AgEagle, Draganfly, and Lilium to all reportedly receive warnings about possibly being escorted from elite…