3 Flying Car Stocks to Turn $5,000 Into $1 Million: April 2024


  • Here are just a few top flying car stocks ready to take flight.
  • Archer Aviation (ACHR): The company is working with Stellantis (STLA), which gave it an unprecedented position to commercialize this business very efficiently.”
  • Joby Aviation (JOBY): JOBY is also nearing Federal Aviation Administration (FAA) certification, having completed three of the five stages of the FAA certification process.
  • Lilium (LILM): 2024 will be another key year for the company with the next important milestone being its first manned flight.
Flying car stocks - 3 Flying Car Stocks to Turn $5,000 Into $1 Million: April 2024

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Investors may want to pay close attention to flying car stocks.

If all goes according to plan, the market for flying car stocks could become a trillion-dollar opportunity according to JPMorgan. By 2040, it could be worth about $3 trillion as flying cars start to get into cargo and military operations. All as dozens of companies — from China to the U.S. and Europe — get flying cars off the ground.

In the U.S., companies like Archer Aviation (NYSE:ACHR) are hoping to take to the skies in Santa Monica by 2025. “The tech company, which has raised $1 billion in capital claims that a flight from Santa Monica airport to Malibu would take five minutes and cost less than $40, cheaper than an Uber,” as reported by LAmag.com.

The best part — before flying car stocks take off, you can buy them on the cheap. Some of the top ones you may want to start accumulating include:

Archer Aviation (ACHR)

The logo for Archer Aviation (ACHR) displayed on a smartphone.
Source: T. Schneider / Shutterstock.com

Now trading at double-bottom support, oversold shares of Archer Aviation look ready to take flight again. In fact, from its last traded price of $4.30, I’d like to see it retest resistance at around $5.40 again initially.

Helping, in a recent earnings call, Archer CEO Adam Goldstein said

We are maturing our contract manufacturing plans rapidly and our goal is to finalize the details later this year with Stellantis (NASDAQ:STLA) then absorbing the vast majority of the capital expenditures and working capital requirements to manufacture our aircraft at scale. I believe that we are the only eVTOL company in the world to announce a relationship like this with a top automotive manufacturer, and this gives us significant cash flow advantages. This puts us in an unprecedented position to commercialize this business very efficiently.”

The company is also still waiting on certification, where progress is being made. According to the company, “We are now constructing the Midnight aircraft that will be used in ‘for credit’ flight testing with the FAA as the company progresses towards our goal of obtaining Type Certification in 2025.”

Joby Aviation (JOBY)

Person holding smartphone with logo of startup and aerospace company Joby Aviation (air taxi) on screen JOBY stock.
Source: T. Schneider / Shutterstock.com

After hitting a low of $4.68, Joby Aviation (NYSE:JOBY) is starting to see buy interest again. From its current price of $4.90, I’d like to see it run back to $6.55 initially.

JOBY is also nearing Federal Aviation Administration (FAA) certification, having completed three of the five stages of the FAA certification process. In addition, the company has said it’s on track to start commercial passenger service by 2025, with initial flights in Dubai. 

Helping, earnings haven’t been too shabby. In its fourth quarter, its earnings loss of 17 cents beat by two cents. Revenue of $1.03 million beat by $300,000. Plus, its cash and cash equivalent position did grow from $146.1 million at the end of 2022 to $204.017 million at the end of last year. Even better, the company plans to produce up to 500 eVTOL aircraft every year at its new manufacturing facility in Ohio. All of which tells us the company is doing well.

Lilium (LILM)

The website for Lilium (LILM) is displayed on a smartphone screen.
Source: T. Schneider / Shutterstock.com

We can also look at Lilium (NASDAQ:LILM) — which now trades at 89 cents. We know the company signed a memorandum of understanding (MoU) with Lufthansa Group (OTCMKTS:DLAKY) to explore a partnership on eVTOL aircraft operations in Europe. It also signed an MoU with CITIC Offshore Helicopter to set up eVTOL operations in China.

Most recently, the company and Atlantic Aviation teamed up to “construct the necessary infrastructure for their regional air mobility service in the United States,” said John Redcay, Chief Commercial and Sustainability Officer at Atlantic, as quoted in a LILM press release.

In addition, Lilium CEO Klaus Roewe added, “For Lilium, 2023 was a pivotal year, in which we transitioned from design to production of the Lilium Jet, confirmed our credentials as an aviation company by receiving Design Organization Approval from EASA and secured important airline and battery cell production partnerships. 2024 will be another key year for our company with the next important milestone in our aircraft development program, first manned flight of the Lilium Jet, targeted for the end of the year.”

On the date of publication, Ian Cooper did not hold (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.

Article printed from InvestorPlace Media, https://investorplace.com/2024/04/3-flying-car-stocks-to-turn-5000-into-1-million-april-2024/.

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