Josh Brown Pitches ‘Very Exciting’ Speculative Stock – ‘Keep It On Your Radar’

Joby Aviation Inc (NYSE:JOBY) is one of the Top 10 Stocks Wall Street is Buzzing About These Days.

Josh Brown, CEO of Ritholtz Wealth Management, recently talked about how impressed he is with the electric vehicle takeoff and landing aircraft company Joby Aviation Inc (NYSE:JOBY) stock performance. Brown recommends that people keep the stock on their radar.

“I brought the stock to the show on June 17th and I took an initial position and I said this is highly speculative. It’s really not the kind of thing that I do a lot of. Unfortunately, I didn’t buy that much of it. It’s up 104% since then. Did not expect that. If I did, I would have bet the rich. So, let’s just be very clear. This thing took off way faster than I had a chance to accumulate. But I just want to give people an update as to what’s going on and why. They just doubled their air taxi production capacity in the state of California and made a major announcement in Ohio. These are eVTOL. Basically, these are electric vehicle, electric vertical takeoff and landing. So they are—think of it like a cross between a helicopter and a plane for very short trips. They just want to lift you up off the ground, bring you to your destination, drop you off. There will be a lot of uses for these over the next 10 years. This is the leading company in the space. Just delivered their first production aircraft to Dubai.”

Photo by Austin Distel on Unsplash

Brown believes Joby Aviation Inc (NYSE:JOBY) progress in the US could be its next catalyst:

“They’re running an eVTOL trial in Dubai where I guess the government’s allowing them to do more than they could do here. So in the United States, the last thing they have to clear is the final FAA certification phase. That’s the next catalyst. I don’t know how much the stock rally is already pricing that in, but I’m going to remain long with my position. Very exciting company. Highly speculative. Not telling people to buy it up 100% in a month, but keep it on your radar. It’s worth learning what they’re working on.”

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