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Joby Aviation Stock Falls as LA Air Taxi Vertiport Plan Meets Certification Reality
Joby Aviation’s stock fell 7.1% after announcing plans with Reuben Brothers to convert a Los Angeles helipad into a vertiport for its electric air taxis, an initiative aimed at establishing an L.A. network. The announcement coincided with a broad decline in air-taxi stocks, as investors remain focused on Joby’s progress with certification, financial updates, and production targets ahead of its Q1 earnings call on May 5th. Despite testing its first production model and aiming for limited U.S. operations this year, the company faces significant regulatory hurdles and market skepticism regarding its ambitious goals.