Joby Aviation stock down as court fight and Russell index moves hit
Joby Aviation Inc. shares slipped 1.4% to finish at $9.86 Monday, caught up in renewed legal headwinds for electric air-taxi names. The stock swung between $9.59 and $10.30 during regular hours, with 47.66 million shares traded — about 166% of its 65-day average, according to MarketWatch. Joby Aviation is in a tight spot right now, with its first commercial routes still coming and U.S. regulators still evaluating rules for electric vertical takeoff and landing aircraft. Index funds are also getting ready for the Russell U.S. benchmark changes after the close on Friday. FTSE Russell called June’s reconstitution one of the year’s highest-volume trading days, as about $12.2 trillion is tied to Russell U.S. indexes.