JOBY

Over the past six months, Joby Aviation's stock price has significantly declined, falling by 34.85% over the last six months, 55.08% year-to-date, and 69.70% over the past 12 months as of October 2026. This downturn is attributed to investor concerns regarding potential dilution and cash burn following a $500 million defense acquisition and a $750 million at-the-market equity program. The second-quarter 2026 report showed a widening operating loss despite revenue from the Blade business. Regulatory delays impacting eVTOL certification timelines have also contributed to the slump. In October 2026, Barclays initiated coverage with an "Underweight" rating and reduced its price target. Additionally, Form 144 filings by insiders and large shareholders in September and October 2026 indicated an intent to sell shares, raising concerns about a supply overhang.