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

Stocks to buy

Flying car stocks could be the next big moneymaker for investors.

We already know the flying car market could be worth about $215.5 billion by 2025, according to Allied Market Research. By 2035, it could be worth well over $3.8 billion. And by 2040, we could be looking at a massive $1.5 trillion market, even $2.9 trillion, according to Morgan Stanley.

In fact, the firm notes, “Flying cars could initially gain market share from cars on the road, planes and public transportation. However, it could also open up a whole new world of business across multiple sectors. In its base case, these opportunities point to a total addressable market of $1.5 trillion by 2040. A more bullish forecast places the market at $2.9 trillion.”

Even more exciting, the Xpeng (NYSE:XPEVAeroHT eVTOL flying car will take pre-orders in China in the fourth quarter of 2024 with deliveries expected by 2025. You can even pre-order a flying car with Alef Aeronautics for about $1,500, which will put a tiny dent in the expected $299,999 price tag at launch. 

Therefore, investors may want to start buying these flying car stocks now.

Joby Aviation (JOBY)

Joby Aviation logo. Joby Aviation is a US company creating an electric aircraft for air taxi services.

Source: Iljanaresvara Studio / Shutterstock.com

After a recent pullback from about $7.50 to $5.50, Joby Aviation (NYSE:JOBY) bottomed out, and could soon take flight again. In fact, from its current price of $5.96, I’d like to see it retest $7.50 as momentum builds for flying car stocks.

Additionally, the company and NASA recently completed air traffic simulations “with the DFW Central Terminal suggesting up 45 eVTOL aircraft could simultaneously be aloft at DFW airport, with 120 flights per hour,” as noted by Seeking Alpha. Moreover, the simulation supports air taxi operations in major U.S. cities. 

Further, Joby Aviation signed an agreement with Helo Holdings to install air taxi chargers in the New York City region. Plus, as the global taxi market takes flight, Custom Market Insights says the market could fly from about $3.8 billion in 2023 to $14.9 billion by 2032.

Archer Aviation (ACHR)

Person holding cellphone with logo of American eVTOL aircraft company Archer Aviation Inc. (ACHR) on screen in front of webpage. Focus on phone display. Unmodified photo.

Source: T. Schneider / Shutterstock.com

We can also look at Archer Aviation (NYSE:ACHR), another big name in the electric vertical takeoff and landing (eVTOL) market. Since bottoming out in May at around $1.85, ACHR rocketed to a high of $7.50. Now at $5.42, there’s still plenty to get excited about.

In October, auto company, Stellantis (NYSE:STLA) bought 12.3 million shares of ACHR at $5.68 a share. Recently, it signed a memorandum of understanding with Air Chateau International for the purchase of 100 Midnight aircraft worth up to $500 million. Finally, the two will also work to get air taxi operations up and running in Abu Dhabi and Dubai by 2026.

Additionally, it signed an agreement with Atlantic Aviation for aircraft operations in Los Angeles, New York City, Northern California, and South Florida. Also, it inked a deal with NASA on eVTOL technology, which will initially focus on studying high-performance battery cells and safety testing targeted for Advanced Air Mobility and space applications,” as noted by Seeking Alpha.

From its current price of $5.42, I’d like to see it rally back to $7.50 initially.

First Trust Nasdaq Transportation ETF (FTXR)

ETF Investment index funds concept with letter wooden blocks and lots of different currencies, ETFs to buy. Emerging markets ETFs

Source: Eviart / 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 greatly exposed to U.S. companies in the transportation industry. 

That includes 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 a high of $30.50. With its recent pullback to $28.61, 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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