NEW YORK, June 26, 2026, 19:02 (EDT)
- Joby shares ended the session 0.45% lower at $8.83. Volume hit 56.2 million shares, running 184% of the 65-day average.
- About 246.7 million JOBY shares traded over five sessions, roughly 39% of the public float. The stock dropped 10.45% in that period.
- Short interest was at 100.7 million shares, equal to 16% of the float, right before the Russell rebalance hit after the close Friday.
Joby Aviation, Inc. NYSE:JOBY slipped 0.45% to $8.83 on Friday, but that price move came as nearly 40% of the public float changed hands over five days. The air-taxi name, trading into an index deadline, saw volume hit 56.2 million shares and a low of $8.70.
Joby’s weekly volume hit about 246.7 million shares, according to WSJ daily numbers, compared to MarketWatch’s 629.7 million share public float. That volume doesn’t confirm a shift in holders, but it does show a lot traded as the stock slid 10.45% in five days and dropped 26.23% for the month.
The Russell U.S. index rebalance hit after Friday’s close. CME Group said roughly $11 trillion tracks Russell indexes, with the last trading session before the rebalance one of the busiest of the year. Joby appears in Russell-tied funds like the iShares Russell 2000 Growth ETF and the Vanguard Russell 2000 ETF, per TradingView.
Noisy tape makes it tough to read into the move. The drop happened, but some trading was likely connected to index and ETF flows instead of fresh news on FAA certification, Dubai launch, or cash burn. Joby’s shares turned over about $496 million by Friday’s close, nearly 6% of the company’s market cap.
Short interest in JOBY is in focus again. MarketWatch put it at 100.7 million shares on June 15, or 16% of float. Trading on Friday topped half that number, raising the risk of quick swings if the price breaks out or shorts are forced to cover.
The S&P 500 slipped 0.05% Friday, while the Nasdaq dropped 0.24%. Nasdaq ended the week down 4.7%, according to Reuters. Joby’s loss for the week topped that, with a five-day drop more than double the index’s fall.
Joby ended the first quarter with $2.47 billion in cash, cash equivalents and short-term investments. First-quarter revenue came in at $24.2 million, with a net loss of $110.0 million. Net cash used in operating activities totaled $144.4 million for the period.
Joby CEO JoeBen Bevirt said on a May call that the company has the “clearest path” yet to starting passenger flights. CFO Rodrigo Brumana said the first-half cash-use plan is on target and that Joby can cover its ramp because of “the strength of our balance sheet.” Investing.com
Certification news is still what moves the stock. Reuters said in March that Joby began flying its first plane for federal certification testing for type inspection authorization, and the FAA plans pilot evaluations this year. The company also wants to operate flights in Dubai this year and targets monthly production of four aircraft in 2027.
Brumana’s insider sale was already public before this week’s high-volume drop. According to a June SEC Form 4 filing, he bought 293,686 shares on June 1, then sold 140,716 shares the next day at $11.77. He now holds 160,183 shares. Shares closed Friday down 25% from that sale price.
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