Why Joby Aviation Stock Sank This Week

Joby Aviation (NYSE: JOBY) stock lost ground across the last week of trading. The electric flying vehicle company's share price closed out the stretch down 12% from the previous Friday's market close, according to data from S&P Global Market Intelligence.Joby Aviation fell this past week following news that the company had entered into an agreement to sell new stock amid a broader valuation pullback for speculative stocks. But while its share price slipped, there was some good news for the company. Joby Aviation submitted a filing with the Securities and Exchange Commission (SEC) on Dec. 10 showing that it planned to sell new stock. According to the filing, the company has cleared plans to sell up to $300 million worth of new shares at a time of its choosing.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool