Amid cautions from the United Nations (U.N.) concerning higher interest rates and the Standard & Poor’s 500 Index experiencing its worst monthly drop since March 2020 in September, the month of October opened as better in general in terms of stock performance.
The Federal Reserve’s meeting on Sept. 22 lived up to expectations, with the Fed increasing interest rates by three-quarters of a point, the third consecutive increase and fifth hike in 2022.
The advanced air mobility industry’s publicly traded companies in the AAM Composite showed a 7% increase in average price for the five days beginning Sept. 13 and ending Sept. 19 over the previous five-day period.
Swedish startup Jetson is closing a $10 million seed round to fund production of its single-seat ultralight electric vertical takeoff and landing vehicle.
Luxury hoverbike developer Aerwins Technologies has announced plans to go public through a deal with Hawaii-based special-purpose acquisition company Pono Capital.
It was a brutal week for the Advanced Air Mobility Stock Composite, which was down close to 40% from the average price of $51 overall on Aug. 22 to $31.15 overall for the five days ending Aug. 29.
The AAM Stock Composite (AAMC) fell 3.8% in the past week after staying mostly flat when some Advanced Air Mobility companies were announcing financial results.
The primary story on funding in the advanced air mobility industry this month is on cash burn related to research and development, to include certification efforts.
Eve Holding climbed from No. 15 to No. 4 in the AAM Reality Index this month, improving its score on the 10-point scale from 7.0 in June to 7.7 in August.
As financial results for the publicly traded advanced air mobility companies were shared with Wall Street analysts and shareholders, the overall AAM Stock Composite stayed steady, registering a less than 1% gain over the two weeks ending Aug. 15.
Blade Air Mobility, one of 10 publicly traded advanced air mobility companies, beat analyst expectations with its second quarter 2022 financial performance.
The Advanced Air Mobility Stock Composite remained in positive territory for the 10-day period ending Aug. 8, with Archer, Joby, Markforged and Workhorse recording improvements in their per-share pricing for the 10-day period.
Vertical Aerospace has secured a $100 million funding line to bolster its finances as the UK startup ramps up spending on development of its VX4 electric vertical takeoff and landing air taxi.
Financial analysis firm Jefferies is the first to recommend a “buy” rating on an advanced air mobility stock, citing a $7.30 price target for Eve Holding versus its current price, $6.75.
The overall AAM Stock Composite stopped the declines of the past three weeks, finishing with a right at 1% increase for the five-day period ending July 11 compared to the week prior.
It was another tough week for the Advanced Air Mobility Stock Composite, with the index falling to $40 for the week ending July 1, down from $43.08 a week ago.
China’s Duofo Group has acquired Italian ultralight helicopter manufacturer Fama Helicopters with the goal of expanding into uncrewed aircraft and electric vertical takeoff and landing vehicles.
