Joby Aviation (NYSE:JOBY) stock is in the news Thursday after the air taxi company completed simulations with NASA’s Ames Research Center.
These simulations tested the use of the company’s electric vertical take-off and landing (eVTOL) aircraft in busy airspace. Specifically, it used air traffic data from the Dallas-Fort Worth area for its tests. This showed the ability to perform up to 120 operations per hour.
Joby Aviation notes that these tests account for both takeoff and landings of its eVTOL aircraft. The company also mentions that the simulation accounted for as many as 45 of its aircraft in the air at once.
Tom Prevot, air taxi product lead at Joby Aviation, said the following about the simulations:
“These successful simulations were made possible by years of careful planning and collaboration between two organizations committed to redefining what is possible, and we’re proud to be paving the way towards the scaled commercialization of air taxis in the National Airspace System.”
What This Means for JOBY Stock
With this new data, Joby Aviation is one step closer to commercial use of its eVTOLs in the U.S. That’s good news for investors who are waiting to see how the company will perform when commercial flights become available.
JOBY stock is up 4.2% as of Thursday morning, with more than 1 million shares changing hands. Its daily average trading volume is closer to 5.9 million shares.
Investors who are seeking out even more of the latest stock market stories are in luck!
We have all of the hottest stock market news ready to go on Thursday! Among that is what’s happening with shares of Polished.com (NYSEMKT:POL), Paramount Global (NASDAQ:PARA) and Brenmiller Energy (NASDAQ:BNRG) stock today. All of that news is ready to go at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
