- 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%.California-based Joby said Kerrisdale has a"vested interest" in lowering its share price.
Joby plans to operate like a rideshare app, unlike other electric vertical takeoff and landing peers that intend to sell their aircraft to customers including airlines and logistics firms. Kerrisdale warned of higher operating costs as the company's electric aircraft are likely to offer lower range and power than traditional helicopters.
In its most recent quarter, the company posted a bigger-than-expected loss, citing expenses related to certification and early manufacturing operations.We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Include punctuation and upper and lower cases.
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