#1 - Vertical Aerospace (NYSE:EVTL)
Vertical Aerospace Ltd. (NYSE: EVTL) is one of the speculative stocks for investors to consider in the emerging flying car sector. Flying cars, also known as electric vertical take-off and landing aircraft – or EVTOLs, are becoming a reality. We're not close to flying around like The Jetson's. Still, this sector has practical applications, particularly as alternatives to ground transportation for commutes such as to and from an airport in a congested urban area. There are also obvious applications in disaster relief and delivering food and medical supplies to urban areas.
Vertical Aerospace has a prototype, the VX4, that has already logged over 1,000 test flights. The VX4 can hold up to four passengers plus a pilot and can travel up to 100 miles. If the company continues on its current path, it may begin commercial operations in 2025.
However, the company is recovering from a setback after a crash in the UK in 2023. It's also facing a cash burn that, as of December 2023, left the company funded through September 2024. However, the company's founder and chief executive officer, Stephen Fitzpatrick, recently pledged to invest $50 million into the company to extend its cash runway into 2025.
The company has also received a delisting notice from the New York Stock Exchange (NYSE) because the EVTL stock price has been below $1 for 30 consecutive trading days.
About Vertical Aerospace
Vertical Aerospace Ltd., an aerospace and technology company, engages in designing, manufacturing, and selling zero operating emission electric vertical takeoff and landing (eVTOL) aircraft for use in the advanced air mobility in the United Kingdom. It offers VX4, an eVTOL aircraft. The company was founded in 2016 and is headquartered in Bristol, the United Kingdom.
- Current Price
- $0.72
- Consensus Rating
- Buy
- Ratings Breakdown
- 1 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $1.50 (109.2% Upside)
