Kerrisdale Capital goes short on Joby Aviation over earnings concerns

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 9 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 7%
  • Publisher: 66%

United States News News

United States United States Latest News,United States United States Headlines

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in US

United States United States Latest News, United States United States Headlines