New York, June 7, 2026, 17:05 (EDT)
Joby Aviation starts the week with its stock in the red after a 14.3% drop Friday to $9.55. That puts the electric air-taxi developer down almost 20% from last week’s Friday close. U.S. markets were closed Sunday as the NYSE shut for the weekend; trading picks up again Monday.
Friday’s selloff wasn’t only about Joby. The U.S. jobs report came in hot, leading investors to see more risk of higher interest rates. That’s a challenge for companies expected to post profits years from now. Higher rates knock down what people will pay for future earnings today.
Joby ended the week lower after dropping for four straight days. Shares finished at $11.90 on May 29, ticked up on June 1, then fell through Friday. Trading spiked to roughly 38.1 million shares on Friday, the week’s highest volume.
U.S. stocks sold off hard Friday. The Nasdaq Composite slid 4.18%, S&P 500 gave up 2.64%, and the Dow lost 1.35%. The Labor Department said U.S. employers added 172,000 jobs in May, about twice what Reuters said analysts were expecting.
Ryan Detrick, chief market strategist at Carson Group, told Reuters, “After the record run we’ve seen the last nine weeks in equities, specifically tech and semiconductors, the dam just broke today.” The selloff spilled over into more speculative growth names, where future growth is more important than profits right now. Reuters
Rate futures sold off as well. According to Reuters, traders saw a 68.4% chance for a Fed rate hike by December after the jobs numbers, up from 52% Thursday evening. Expectations for June still suggest no move at the next meeting.
Joby is still working on electric vertical takeoff and landing aircraft, or eVTOLs, for passenger service. The business thesis is the same as before the weekend. In May, the company completed New York City’s first point-to-point eVTOL flights, flew its first FAA-conforming aircraft for Type Inspection Authorization, and wrapped up a key FAA audit. Joby ended Q1 with $2.5 billion in cash and short-term investments.
Founder and CEO JoeBen Bevirt said in the May 5 release that Joby had “the clearest path we’ve ever had to beginning passenger operations.” Now investors want to know how much of that path needs to be funded early. Joby Aviation
New York, airports and certification are still the key focus for Joby Aviation in the near term. Reuters said in late April that Joby was holding a week of point-to-point air taxi demo flights in New York. Flights ran between JFK Airport and Manhattan heliports as Joby pushed for government sign-off on commercial service.
Other air mobility stocks slumped as well. Archer Aviation closed Friday at $5.54, dropping roughly 13%. Vertical Aerospace finished at $2.16, down about 10%. Investors reduced exposure to the sector, not just Joby.
Joby’s next scheduled event is tied to marketing and manufacturing, not earnings. The company’s Electric Skies tour stops at the Dayton Airshow on June 13-14, bringing a mobile simulator to the city where Joby has been expanding its manufacturing footprint.
The trade still faces real risks. Certification might drag out, early flights may see slow scaling, cash outflows could stay high, and higher rates are still a headwind for companies trying to convince the market over years—not months. In May, Joby flagged launch timing, production, regulations, capital, supplier risks, and uncertainty about market size.
For Monday, the immediate question is whether buyers see Friday’s drop as a broad washout or just a change in what they’ll pay for an air-taxi company still in the transition from demo flights to paying customers.
