Why EHang Holdings Is Losing Altitude Today
Chinese autonomous flying taxi start-up EHang Holdings (NASDAQ: EH) reported quarterly results overnight, and investors were underwhelmed by what they saw. Shares of EHang traded down more than 12% on Thursday morning after the company reported anemic revenue in the most recent quarter.
EHang is in the process of developing an electric flying air taxi capable of vertical takeoff and landing. There's a huge potential market for a vehicle more efficient and faster than an automobile but not as expensive as a long-distance jet. But there are also many companies pursuing that market.
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Source Fool.com
