Over the past year, Joby Aviation (NYSE: JOBY), a US-based manufacturer of electric vertical takeoff and landing (EVTOL) aircraft, has seen its stock prices balloon more than 170%, delivering incredible returns to shareholders during a year otherwise marked by financial difficulties. However, there is one interesting caveat that a number of financial analysts have been quick to point out: the company has no revenue at this time.

All of this bodes a relatively interesting question: How has Joby Aviation seen share prices rise so dramatically despite the company having no revenue-generation picture at this time? The answer is complex, and it demonstrates how stock price movements, especially in spaces with rapidly evolving technologies, can not always be explained by investing fundamen

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