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Amazon Reveals 5.3% Stake in Electric Aviation Firm Beta Technologies

Deep News
Yesterday

Amazon has disclosed it holds a 5.3% stake in Beta Technologies, an electric aviation company that went public last year. According to a filing submitted to the U.S. Securities and Exchange Commission on Tuesday, Amazon's subsidiary, Amazon.com NV Investment Holdings, owns approximately 11.8 million shares of Beta Technologies. Amazon initially announced its investment in Beta Technologies in 2021, which is part of its fund focused on the climate sector. Headquartered in Vermont, Beta Technologies designs, manufactures, and sells electric aircraft, electric propulsion systems, components, and charging systems. Shares of Beta Technologies surged 19% in after-hours trading to $19.94. At the market close, the stock had fallen 51% over the past three months.

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