Air Taxi Stocks Joby and Archer Soar After Upbeat Analyst Report

It was takeoff time Tuesday for the long-grounded stocks of Joby Aviation and Archer Aviation. The two developers of electric vertical-takeoff aircraft got lifts as Needham & Co. launched coverage with Buy ratings. The Federal Aviation Administration expects air taxi service to start in 2028, notes analyst Chris Pierce, and just issued final rules for pilots of these electric vertical takeoff and landing aircraft, or eVTOLs.