3 Flying Car Stocks to Turn $5,000 Into $1 Million: June 2024

Stocks to buy

We’re getting closer to flying cars, creating a big opportunity for flying car stocks.

House lawmakers now want the U.S. Air Force to make its electric flying car a reality.  In fact, “A House subcommittee’s section of the proposed 2025 National Defense Authorization Act directs the Air Force and the Pentagon to set up a working group made up of top-ranking defense officials to spur applications of a program called Agility Prime,” says Stripes.com.

Two, Archer Aviation (NYSE:ACHR) just received its Part 135 Air Carrier & Operator certificate from the Federal Aviation Administration (FAA) to commercially operate aerial vehicles.

Xpeng (NYSE:XPEV) could deliver its first flying cars by 2026. At the moment, the company is working with Chinese aviation regulators. Should all go well, we could be looking at a potential $1 trillion market opportunity by 2040.

That’s why investors may want to start buying flying car stocks today.

Joby Aviation (JOBY)

Source: T. Schneider / Shutterstock.com

Another one of the hottest flying car stocks to own is Joby Aviation (NYSE:JOBY).

The company delivered aircraft to the U.S. Air Force, completed its second production prototype, and is now moving into its next phase of test flights after completing pre-production flight tests. As it heads into the production prototype aircraft phase, it can earn tax credits and move even closer to commercialization. 

JOBY also has plans to launch in Dubai by 2025. It’s also preparing to launch air taxi trials in India next year, with commercialization by 2026. It also widened its partnership with the U.S. Air Force through a commitment to delivering two aircraft to MacDill Air Force Base. 

Even better, earnings haven’t been too shabby. In its first quarter, the company posted an earnings per share loss of 14 cents, which beat by three cents. Revenue of $25,000 also beat expectations for zero revenue.

eHang Holdings (EH)

Source: CNN

After rallying to $20.40, eHang Holdings (NASDAQ:EH) dipped to $15.94, where it’s again a substantial buy opportunity. 

Morgan Stanley just initiated an overweight rating on shares of EH, with a price target of $27.50. “We view eHang as a pioneer in the urban air mobility (UAM) market — with the world’s first [type certificate] awarded, validated products, and access to a multi-trillion [renminbi total addressable market] in China,” added the firm.

Earnings have been solid, too. The company posted a 178% increase in year-over-year revenue in its first quarter. It also posted positive operating cash flow for the second consecutive quarter. The company also receiveda production certificate for its EH216-S eVTOL aircraft, which sets the stage for mass production and expanded commercial operations,” says TipRanks.com.

Even better, it signed a memorandum of understanding with Taiyuan Xishan Ecological Tourism Investment Construction Co. to jointly develop the low-altitude economy in Taiyuan City, Shanxi Province, China. In addition, Xishan Tourism ordered 50 EHang EH216-S pilotless electric vertical takeoff and landing aircraft.

First Trust Nasdaq Transportation ETF (FTXR)

Source: kolesinibimitresku / Shutterstock.com

Or, if you want to diversify your portfolio with next-generation transportation stocks, consider the First Trust Nasdaq Transportation ETF (NASDAQ:FTXR). With an expense ratio of 0.60%, the ETF is exposed to U.S. companies in the transportation industry. 

Some of its 41 holdings include General Motors (NYSE:GM), Ford Motor (NYSE:F), Tesla (NASDAQ:TSLA), CSX Corporation (NASDAQ:CSX), American Airlines (NASDAQ:AAL), Lear Corporation (NYSE:LEA) and Delta Air Lines (NYSE:DAL).

Since late October, the FTXR rallied from about $25 to just over $32. With its recent pullback to $29.50, I’d use the recent weakness as an opportunity.

On the date of publication, Ian Cooper did not hold (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.

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