NEW YORK, July 3, 2026, 10:01 EDT
- NYSE stayed closed Friday for the holiday. Joby finished Thursday’s session at $8.49.
- Joby dropped 3.9% from last Friday’s close over the four-day week, despite the Toyota manufacturing joint venture news.
- Joby traded 207.7 million shares over four days, roughly 39% more than its average daily volume on Google Finance.
- The JV filing puts Toyota at 51% ownership and gives it three out of five board seats. The vehicle starts with $2 million in cash.
Joby Aviation NYSE:JOBY closed out the week on a softer note than Toyota’s news signaled. The NYSE was shut Friday, July 3, for the observed Independence Day holiday, so $8.49 on Thursday was the last trade before the break.
Joby shares dropped 3.9% from the $8.83 close last Friday, despite news of the manufacturing JV with Toyota Motor Corp (TYO:7203). Trading picked up: 207.7 million shares moved in four sessions, or about 51.9 million a day, above the 37.42 million daily average on Google Finance.
Joby shares jumped 7% premarket Tuesday after the Toyota news, Reuters said. The stock ended the day up 3.36%, but by Thursday, it had lost that gain and more.
| Date | Open | High | Low | Close | Change | Volume |
|---|---|---|---|---|---|---|
| Jun 26 | $8.76 | $9.08 | $8.70 | $8.83 | -0.45% | 54.2 mln |
| Jun 29 | $8.76 | $9.11 | $8.33 | $8.63 | -2.27% | 47.6 mln |
| Jun 30 | $8.89 | $9.09 | $8.67 | $8.92 | +3.36% | 58.3 mln |
| Jul 1 | $8.84 | $9.31 | $8.73 | $8.84 | -0.90% | 45.8 mln |
| Jul 2 | $8.93 | $9.10 | $8.30 | $8.49 | -3.96% | 55.9 mln |
The JV isn’t really a short-term capital move—it’s more like a manufacturing setup that means more paperwork. Per Joby’s SEC filing, Joby is committing $980,000 to Joby Toyota Aero Manufacturing Preparation Company for a 49% slice, and Toyota is putting in $1.02 million for 51%. Toyota takes three board seats. Joby gets two.
The filing says the sides still have to work out a supply deal for manufacturing along with commercial and IP terms. Future capital contributions will be decided in a later, amended deal.
One key detail for investors is further down: Joby said Toyota’s next $250 million investment depends on those future deals closing, under an existing stock purchase agreement. The filing lists possible reasons the deal could get called off, including FAA type certification, production certification, FAA approval for the joint venture as an associate facility, plus agreed plane orders and production levels.
Joby CEO JoeBen Bevirt said Toyota has supported Joby “for nearly a decade.” Toyota Chairman Akio Toyoda described air mobility as “a natural extension” of Toyota’s mobility strategy. Joby Aviation
| Item | Filing or market data | Investor read |
|---|---|---|
| Initial JV cash | $2.0 mln total | Small against Joby’s cash pile |
| JV ownership | Toyota 51%, Joby 49% | Toyota keeps control of the JV |
| JV board | Toyota 3 seats, Joby 2 | Board votes favor Toyota for manufacturing calls |
| Joby cash + short-term investments at Mar. 31 | $2.47 bln | Cash stockpile stays key |
| Joby market cap | About $8.35 bln | Shares still value out-year delivery |
Joby reported $2.47 billion in cash, cash equivalents and short-term investments at the end of the first quarter. Net cash used for operations came in at $144.4 million for the period. The company posted $24.2 million in revenue, driven mainly by passenger and other services, not from scaled eVTOL passenger flights.
Based on Google Finance market cap and Joby’s latest cash and short-term investments, the market put its operating story at about $5.9 billion net of cash. That’s about 61x first-quarter revenue, annualized. It’s a rough gauge, but it explains why updates on manufacturing or certification matter more to this stock than its current small revenue figures.
Joby has been trading with extra volatility. By Thursday’s close, shares sat just 9.5% above the 52-week low at $7.75, while the price was still down about 59% from the 52-week high of $20.95.
| Stock or ETF | Ticker | Last price | Latest move | Volume | Market value |
|---|---|---|---|---|---|
| Joby Aviation | NYSE:JOBY | $8.49 | fell 4.0% | 56.2 mln | around $8.3 bln |
| Archer Aviation Inc | NYSE:ACHR | $4.98 | up 1.1% | 29.0 mln | $3.8 bln |
| Vertical Aerospace Ltd | NYSE:EVTL | $1.85 | added 0.5% | 2.0 mln | $0.4 bln |
| SPDR S&P 500 ETF Trust | NYSEARCA:SPY | $744.78 | down 0.1% | 57.5 mln | $659.5 bln |
| Invesco QQQ Trust | NASDAQ:QQQ | $712.60 | dropped 1.7% | 51.1 mln | $339.7 bln |
Joby’s drop went beyond the broader market move. The Nasdaq Composite lost 0.8% on Thursday. The S&P 500 closed about flat. The Dow gained 1.1% and closed at a record, AP reported.
Joby shares begin the week trading close to the bottom of their 12-month range and there’s nothing on the company’s events calendar. The investor-relations page lists no scheduled events.
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