Small But Mighty: 10 Stocks That Stunned Wall Street Today

5. Joby Aviation, Inc. (NYSE:JOBY)

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, 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.