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Kerrisdale Capital goes short on Joby Aviation over earnings concerns

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Kerrisdale Capital said on Tuesday it had taken a short position on Joby Aviation over profitability concerns, sending the electric aircraft maker's shares down nearly 5 per cent."We believe (Joby) is years away from generating operating revenue," the fund said.California-based Joby said Kerrisdale

Kerrisdale Capital said on Tuesday it had taken a short position on Joby Aviation over profitability concerns, sending the electric aircraft maker's shares down nearly 5 per cent.California-based Joby said Kerrisdale has a"vested interest" in lowering its share price.

Kerrisdale warned of higher operating costs as the company's electric aircraft are likely to offer lower range and power than traditional helicopters.

 

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