Joby Aviation Stock Slides 15% After $1.18B Offering: What Investors Need To Know

Joby Aviation Inc (NYSE:JOBY) shares are trading flat Friday morning after a sharp selloff earlier this week, following the company's announcement of an upsized $1.18 billion public offering.

Shares have fallen roughly 15% since Wednesday. Here's what investors need to know.

• Joby Aviation stock is holding steady today. Where are JOBY shares going?

Joby Aviation’s Financing Strategy

The company priced a concurrent offering consisting of $600 million in 0.75% convertible senior notes due 2032 alongside 52.86 million shares of common stock priced at $11.35 per share. Joby expects to clear approximately $1.16 billion in total net proceeds from these deals, which are scheduled to settle on February 2.

Additionally, Joby entered into “capped call” transactions to protect existing shareholders from excessive dilution, with a cap price of $22.70 per share. This move is part of the company’s strategy to fund its push for FAA certification and the scaling of its manufacturing facilities.

Is A Rebound On The Horizon For Joby?

Joby Aviation is currently trading 23.2% below its 20-day simple moving average and 26.2% below its 100-day SMA, indicating significant short-term weakness. Shares have increased 35.36% over the past 12 months and are currently positioned closer to their 52-week lows than highs.

The RSI is at 27.50, which is considered oversold territory, suggesting potential for a rebound. Meanwhile, MACD is below its signal line, indicating bearish pressure on the stock.

The combination of oversold RSI and bearish MACD suggests mixed momentum.

• Key Resistance: $14.50
• Key Support: $10.50

How Joby Aviation Is Redefining Urban Mobility

Joby Aviation Inc is a transportation company developing an all-electric, vertical take-off and landing (eVTOL) air taxi for commercial passenger service. Its Joby eVTOL aircraft is designed to transport a pilot and up to four passengers or an expected payload of up to 1,000 pounds at speeds of up to 200 mph.

The company is also developing an app-based platform to build and operate an aerial ridesharing service powered by a network of eVTOL aircraft that it will manufacture and operate. Currently, the company generates all of its revenue from flight services provided to the Department of Defense in the United States.

Analysts Are Split On Joby’s Future

Investors are looking ahead to the next earnings report on Feb. 25.

• EPS Estimate: Loss of 20 cents (Up from Loss of 34 cents YoY)
• Revenue Estimate: $17.20 million (Up from $0.06 million YoY)

Analyst Consensus & Recent Actions: The stock carries a Hold Rating with an average price target of $12.50. Recent analyst moves include:

• Goldman Sachs: Initiated with Sell (Target $10.00) (Dec. 1, 2025)
• Needham: Buy (Maintains Target to $22.00) (Nov. 6, 2025)
• JP Morgan: Underweight (Raises Target to $8.00) (Oct. 31, 2025)

Benzinga Edge Rankings

Below is the Benzinga Edge scorecard for Joby Aviation, highlighting its strengths and weaknesses compared to the broader market:

• Momentum: Weak (Score: 28.72) — Stock is underperforming the broader market.

The Verdict: Joby Aviation’s Benzinga Edge signal reveals a challenging environment for the stock. While the weak momentum score indicates underperformance, the company’s recent capital raise may provide necessary funding for its ambitious growth plans.

Top ETF Exposure

• State Street SPDR S&P Transportation ETF (NYSE:XTN): 2.74% Weight
• SPDR S&P Transportation ETF (NYSE:XTN): 3.23% Weight
• WisdomTree Battery Value Chain and Innovation Fund (NASDAQ:WBAT): 3.40% Weight

Significance: Because JOBY carries significant weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.

JOBY Shares Trade Flat Friday

JOBY Price Action: Joby Aviation shares were up 0.90% at $11.05 during premarket trading on Friday, according to Benzinga Pro data.

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