Joby Aviation stock keeps rising on news that it will ‘explore opportunities’ to supply flying taxis to Saudi Arabia

Shares in Joby Aviation (NYSE: JOBY) jumped yesterday after the air taxi company announced a potential deal with the Saudi Arabia-based Abdul Latif Jameel. The deal could lead to Joby supplying up to 200 of its eVTOL aircraft. Here’s what to know about the potential and its effect on Joby’s stock price.

What is Joby?

Joby Aviation, better known as Joby, is a Santa Cruz, California-headquartered aviation company that is developing a fleet of electric vertical takeoff and landing (eVTOL) vehicles—in other words...