Electric air-taxi stocks fall despite positive news as investors favor cash flow over future earnings.

Shares of major electric air-taxi companies Archer Aviation, EHang Holdings, and Joby Aviation dropped between 4% and 7% despite positive developments such as Archer's acquisition of profitable Boeing-owned businesses and Joby's progress in FAA certification. The decline reflects a broader investor shift favoring companies with immediate cash flow, like energy producers, amid high oil prices. This trend suggests that market sentiment currently discounts future revenue potential in the air-taxi sector, pressuring stocks even when concrete business milestones are announced. Investors are advised to remain cautious and watch for signs of revenue generation before increasing exposure to this sector.