Joby Aviation (JOBY) Soars on Trump’s “American Drone Dominance” Order

We recently published a list of Small But Mighty: 10 Stocks That Stunned Wall Street Today. In this article, we are going to take a look at where Joby Aviation, Inc. (NYSE:JOBY) stands against other stocks that stunned Wall Street on Monday.

Joby Aviation jumped by 13.67 percent on Monday to end at $9.23 apiece as investor sentiment was buoyed by President Donald Trump’s new executive order aiming to unleash “American Drone Dominance.”

Joby Aviation, Inc. (NYSE:JOBY) rallied alongside its counterpart, Archer Aviation Inc. (NYSE:ACHR), on the US’s new program of ramping up the adoption of electric vertical takeoff and landing (eVTOL) technology.

According to the White House, the new EO is meant to combat “unfair foreign competition [that] has posed a national security risk.”

“All agencies shall prioritize the integration of UAS manufactured in the United States over those made abroad to the maximum extent permitted by law,” the EO reads.

Additionally, the EO ordered government-owned financial institutions to prioritize support to US-manufactured civil UAS and related systems through direct loans and guarantees as well as equity investments and co-financing, among others.

Joby Aviation (JOBY) Soars on Trump's "American Drone Dominance" Order

A futuristic electric vertical takeoff and landing aircraft soaring through the sky.

Joby Aviation, Inc. (NYSE:JOBY) is a US-based eVTOL company headquartered in Santa Cruz, California. Just recently, the company secured a $500-million investment from giant carmaker Toyota Motor Corporation for the certification and commercial production of its electric air taxi.

Overall, JOBY ranks 5th on our list of stocks that stunned Wall Street on Monday. While we acknowledge the potential of JOBY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.