Shares of electric air taxi start-up Joby Aviation (NYSE: JOBY) surged a whopping 57.9% this week through Thursday trading, according to data from S&P Global Market Intelligence.

On Wednesday, Joby achieved an important milestone, receiving a Special Airworthiness Certificate from the Federal Aviation Administration (FAA). That FAA approval means Joby can begin flying its actual production-line air taxi in a real setting.

On the heels of that approval, the company also received a fresh $100 million investment from a major South Korean telecom, lending even further confidence to the early-stage company.

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Source Fool.com