Jim Cramer Recently Put These 18 Stocks Under a Microscope

12. Joby Aviation, Inc. (NYSE:JOBY)

Number of Hedge Fund Holders: 31

Joby Aviation, Inc. (NYSE:JOBY) is one of the stocks Jim Cramer recently put under a microscope. Answering a caller’s query about the stock during the lightning round, Cramer said:

“No, they’re losing too much money, buddy. I absolutely love the idea, but they’re losing too much money. We already got a thing called helicopters, and that does us just fine.”

Joby Aviation, Inc. (NYSE:JOBY) designs and makes electric vertical takeoff and landing aircraft for use in aerial ridesharing. The company is also developing a related app. Cramer discussed the company’s stock during the October 8 episode and commented:

“It’s the speculative stocks that remind me of the dot-com era, a group of companies with no earnings to speak of that need to raise money to stay afloat. Now, we see these in nuclear power or crypto, or quantum computing stocks. These have all been bid up furiously by retail investors… I fear we’re at the cusp of some gigantic equity offerings for some kinds of these companies. We got one on Monday from an also-ran quantum company called Quantum Computing, and another one today from Joby Aviation, the flying car company. It offered 30.5 million shares of new stock at $16.85 per share. It closed up from the deal $17.37, but way down from the nearly $19 price of yesterday’s close. That’s brutal and very 2000-ish.”