"There is no force on earth more powerful than an idea whose time has come." - Victor Hugo
Bots in the News:
In delayed reaction to the Fed’s 25 basis point drop in the Fed Funds Rate the broad market and the Bot Index gained significantly in last week’s trading. The Bots exceeded the 2.78% gain by the S & P 500 by over 50 basis points.
Two aerospace companies provided double digit returns for their shareholders. Joby Aviation led the gainers with a sparkling 18.43% jump for the week. According to Zach’s Investment Research, the jump was noted by, “Joby Aviation stock also saw gains thanks to news about its runway for expansion in the U.K. market. The U.K.'s Civil Aviation Authority (CAA) recently published a report that suggests a favorable outlook for the introduction of eVTOL aircraft in the market. Joby Aviation stock also saw gains thanks to news about its runway for expansion in the U.K. market.” The company has already achieved approvals within several Middle Eastern nations for test of its vertical takeoff and landing vehicles.
The second double digit gainer was AeroVironment, the drone manufacturer. The U.S. State Department announced a policy shift which should help AeroVironment sell drones internationally to a handful of new countries. This upside -- paired with a proposed budget from the Pentagon to nearly double drone and counter-drone spending -- has the market taking note of the company's stock. Last year’s acquisition of Blue Halo added significantly to the company’s diversification platform to provide a more comprehensive defense array of products and services. The announcement regarding the State Department’s posture led Bank of America and William Blair to up their ratings of the stock.
2020’s Decade of Bot Index Performance
