Some may think flying car companies are just producing hobbyist prototypes for wealthy clients. But their airborne vehicles also offer practical applications such as warehousing, search and rescue, emergency response and combat situations. With more pragmatic uses comes more interest from investors, making flying car stocks a futuristic buy with a here-and-now upside.
Here are the best flying car stocks investors can’t afford to miss out on in November 2023.
Lilium N.V. (LILM)
Lilium N.V. (NASDAQ:LILM) has been noted as an undervalued flying car stock previously on InvestorPlace, making significant advancements and attracting attention for its potential growth €‹ €‹.
Analysts consider Lilium N.V. undervalued due to the company’s recent fundraising efforts that sharply dropped its stock price. The company, which is developing electric vertical takeoff and landing (eVTOL) aircraft, raised $192 million in additional capital, causing concerns over share dilution.
Some of LILM’s valuation ratios support the idea that its share trades below its fair value. For example, it trades near the the range of its 52-week low and has a price-to-book ratio of around just two, which could mean LILM is one of those flying car stocks with an explosive upside potential.
Joby Aviation (JOBY)
Joby Aviation (NYSE:JOBY) is known for its steady progress in developing flying cars and is one of the stocks leading the way forward in this market.
The bull case for JOBY stock is based on its significant progress within the eVTOL aircraft industry, with an almost 80% rise in shares year-to-date (YTD). The company has successfully conducted the first electric air taxi flight in New York City and is positioning itself for an early market launch, pending Federal Aviation Administration (FAA) certification.
Joby’s eVTOL has completed most of the FAA’s required certifications and has flown over 30,000 miles in tests, recently beginning flights with onboard pilots.
Joby has also made history with the first electric air taxi delivered to the U.S. Air Force under a lucrative contract. These factors make JOBY one of the best flying car stocks to buy right now.
Archer Aviation (ACHR)
Archer Aviation’s (NYSE:ACHR) bull case is buoyed by a significant memorandum of understanding with Air Chateau International for a $500 million order of 100 Midnight eVTOL aircraft.
The agreement includes a $1 million pre-payment with subsequent installments totalling an additional $4 million. Amid this news hitting the markets last week, ACHR stocks share rose substantially.
Their Midnight eVTOL model, quieter and more efficient than traditional helicopters, is advancing towards broader commercialization by 2025. This is partially due to successful demonstrations to key government agencies and strategic hiring, like that of former acting FAA administrator Billy Nolen.
These factors make ACHR one of the top flying car stocks to watch in November.
On the date of publication, Matthew Farley did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.