markets

Max Knoblauch8/15/25

Joby completes first test flight between US airports

Air taxi maker Joby Aviation announced Friday that it’s completed its first US test flight between two airports. Joby shares were up more than 9% in premarket trading but then gave that all back soon after the regular session started.

The company’s electric aircraft, or eVTOL, completed a trip between Marina and Monterey, California, in 12 minutes (including a five-minute hold pattern for air traffic). According to Airport Guide, the typical drive between the two locations without traffic would take about 11 minutes, which some Joby critics pointed out online. Per Google Maps, at roughly 8 a.m. PT, the trip would take half an hour by car.

Air taxi companies like Joby and rival Archer Aviation are racing to achieve FAA certification in order to launch their commercial flight services in the US. In its second-quarter earnings report, posted earlier this month, Joby said it’s 70% complete with the fourth stage in the five-stage certification process.

The company recently announced its plans to acquire the helicopter ride-share business of competitor Blade Air for $125 million, sending Joby shares surging.

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J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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