In The News: Joby Aviation
$JOBY
Some news out this morning in the M&A space wiht JOBY 0.00%↑ purchasing BLDE 0.00%↑ .
Joby Acquires Blade Air Mobility’s Passenger Business
Joby Aviation has agreed to purchase Blade Air Mobility’s urban passenger service business for up to $125 million, including up to $35 million in milestone-linked holdbacks Reuters+15TechCrunch+15Joby Aviation, Inc.+15. The acquisition includes Blade's U.S. and European passenger operations, its brand, and access to 12 urban terminals (notably in NYC and Manhattan), plus lounge infrastructure at JFK and Newark airports
BLDE 0.00%↑ is up commensurately, but it’s the JOBY 0.00%↑ chart that interests me. It’s also up on the news, a rarity for acquirers at announcement, and the if it can hold the breakout level pictured, it provides a nice setup for a measured move into the mid $20’s.