New York, July 7, 2026, 13:06 EDT
- Joby Aviation dropped 8.1% to $8.20 early this afternoon in New York, well underperforming the main U.S. equity benchmarks.
- New filings posted July 6 detail a round of RSU vesting, sales to cover taxes, and a planned share sale notice from a Joby executive.
- The company still has $2.5 billion in cash and short-term investments. But the terms from Toyota’s manufacturing venture shift the focus to certification, getting funding for production, and share supply.
Joby Aviation, Inc. NYSE:JOBY dropped 72.5 cents, or around 8.1%, to $8.20 Tuesday. Volume topped 24.4 million shares at last check. The stock started at $8.76, touched $9.00 before dropping to $8.05. The New York Stock Exchange resumed its regular session after closing July 3 for Independence Day.
The selloff spread beyond Joby, but the stock dropped more than the broader market and hovered near electric air taxi rival Archer Aviation Inc. NYSE:ACHR. Shares in Toyota Motor Corporation NYSE:TM, which partners with Joby on manufacturing, barely moved.
| Security | Latest price | Day move | Intraday volume | Market value |
|---|---|---|---|---|
| Joby Aviation NYSE:JOBY | $8.20 | fell 8.1% | 24.4 mln | $7.74 bln |
| Archer Aviation NYSE:ACHR | $4.99 | off 7.2% | 19.0 mln | $3.82 bln |
| Vertical Aerospace Ltd. NYSE:EVTL | $1.81 | down 5.7% | 1.4 mln | $400 mln |
| SPDR S&P 500 ETF Trust NYSEARCA:SPY | $748.98 | slipped 0.3% | 19.9 mln | $663 bln |
| iShares Russell 2000 ETF NYSEARCA:IWM | $297.62 | lost 0.4% | 10.3 mln | $77.3 bln |
| Toyota Motor NYSE:TM | $179.90 | added 0.1% | 258,702 | $2.42 trln |
Price data indicate most of the selling hit speculative air-mobility stocks, while the rest of the market was steady.
The investor story is clearer in SEC filings than in Joby’s news release. Joby put up at least 11 Form 4s on July 6, mostly about restricted stock units. According to the filings, execs and board members got or vested shares. Several officers sold around $8.92 to meet tax bills from RSU settlements.
| Insider / role | RSU or share change disclosed | Sale disclosed | Filing note |
|---|---|---|---|
| JoeBen Bevirt, CEO and chief architect | 30,636 shares vested | 15,788 shares sold at $8.92 | Stock sold to pay taxes. The filing also shows bigger indirect trust holdings. |
| Rodrigo Brumana, CFO | 5,046 shares vested | 2,601 shares sold at $8.92 | Shares were sold for tax withholding. |
| Kate DeHoff, officer | 18,576 shares vested | 9,575 shares sold at $8.92 | Sale was for taxes. |
| Eric Allison, chief product officer | 18,101 shares vested | 9,330 shares sold at $8.92 | Shares sold to cover taxes. |
| Gregory Bowles, chief policy officer | 16,499 shares vested | 5,158 shares sold at $8.92; 4,724 shares sold at $9.10 | First sale was for taxes. Second was on a 10b5-1 trading plan. |
The sales aren’t big compared to Joby’s market cap, but they draw notice as trading in JOBY is tied to expected aircraft production, certification timelines and how much cash the company will need. A Form 144 filed by Bowles put Joby’s share count at 983,642,852, with a plan to sell 4,724 shares for around $40,106.76 on July 6.
Short sellers were piling in ahead of Tuesday’s slide. MarketBeat data shows short interest at 100.7 million shares, or 14.32% of the float, as of June 15—up 13.25% from the last report. By early afternoon Tuesday, that was more than the day’s intraday volume.
Joby and Toyota said June 30 they kicked off the first stage of a strategic manufacturing partnership. An SEC filing showed Toyota will control 51% of the new manufacturing operation, leaving Joby with 49%. Toyota gets to pick three out of five directors. According to the filing, Toyota’s OK is needed on certain future moves, like taking on debt or issuing dividends.
The 8-K said Joby and Toyota plan to hash out terms for an exclusive manufacturing supply deal before hitting the first funding milestone. It also noted the exact dollar amounts for mandatory capital contributions haven’t been set and would come in an amended stockholders agreement. That means investors still don’t have a key number in the production plan.
Joby CEO JoeBen Bevirt said in the Toyota press release that Toyota has been with Joby “for nearly a decade.” Toyota Chairman Akio Toyoda called air mobility “a natural extension” of the company’s mobility approach. Joby Aero, Inc.
Joby’s balance sheet remains its key support. The company finished Q1 with $2.5 billion in cash, cash equivalents, and short-term investments. That figure made up roughly 32% of its $7.7 billion quoted market cap on Tuesday.
Joby said in May it flew its first FAA-conforming aircraft, wrapped up the third of four big FAA certification reviews, and had parts in production for eight more aircraft to the same standard. At the time, Bevirt said Joby now had the “clearest path” yet to launch passenger operations. Joby Aero, Inc.
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