Joby Aviation (JOBY) is trading under $7, down from its $10.62 SPAC debut 5 years ago. They are currently waiting on FAA approval for their electric air taxis to start commercial flights. They have some technical advantages over competitors like Archer (ACHR), including a faster rotor design and a vertically integrated business model where they own and operate the fleet. They also have solid backing from Toyota, Delta, and Uber. Analysts project revenue could go from $53 million in 2025 to $435 million in 2028 if commercial flights launch. However, the stock is pretty speculative right now. At a $6.8 billion market cap, it's trading at 16x projected 2028 sales, which is much higher than Archer. They are also unprofitable, have diluted their share count by 63% since going public, and insiders have sold heavily over the last year. The bull case mainly depends on getting that FAA certification and scaling production.