Joby Aviation stock drop 8% despite strong commercial progress
Shares of Joby Aviation, Inc. fell 8% on Thursday, despite the company’s clear efforts to accelerate the transition from prototype production to commercial operations of its eVTOL aircraft.
In recent days, Joby Aviation made several promising announcements, including signing a memorandum of understanding with the Saudi General Authority of Civil Aviation to deploy an electric air taxi service, as well as a letter of intent to sell aircraft and services worth up to $250 million to Kazakhstan’s Alatau Advance Air Group.
Joby Aviation also completed the first flight of a hybrid gas-turbine demonstrator vertical take-off and landing (VTOL) aircraft at its Marina, California facility, developed in partnership with L3Harris Technologies for both commercial and military applications.
High commercial activity has helped maintain investor interest in the stock, which has risen 8.5% over the past week. However, some investors took profits on this wave, selling shares and causing a daily drop of 8%.
Trading sideways
At the time of writing, JOBY traded around $14.90, wiping out almost all of the recent gains.
“While Joby’s strategic global partnerships and technological achievements are impressive, the third-quarter losses and changing investor sentiment toward speculative eVTOL stocks present a short-term risk. I expect the stock to trade sideways until clearer commercial launch timelines and certification updates are available,” said analyst Anton Kharitonov.
Earlier this month, the company released its third-quarter 2025 financial report, reporting a GAAP net loss of approximately $401 million. Cash, cash equivalents, and marketable securities at the end of the quarter totaled $978.1 million, including $576 million raised in October through share sales, which the company plans to use to support certification, production, and working capital.
Quarterly revenue was around $23 million, including $14 million from subsidiary Blade Air Mobility and $9 million from defense programs.
As we wrote, Joby Aviation stock rises on Nvidia AI partnership announcement
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