This Dirt Cheap $5 Stock Could Make You Filthy Rich
Key PointsJoby Aviation is not a cheap stock per se, but its current price looks attractive against its future.
Joby, an electric air taxi developer, is currently trading at $5 per share despite being involved in launching an innovative air taxi business. This venture aims to alleviate traffic congestion in bustling cities like New York, San Francisco, and Dallas-Fort Worth. Joby's progress towards commercial certification is at an advanced stage, bringing them closer to offering paid rides.
Before commercial operations commence, Joby has acquired Blade Air Mobility's passenger business, granting them access to valuable data on successful routes and customer preferences. This acquisition provides Joby with an early edge over competitors who will have to learn these factors post-launch. Although Joby's current valuation of 40 times trailing revenue is high compared to other aviation stocks, the company's long-term prospects are promising, potentially making its stock price seem rather affordable in the future.
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