NEW YORK, July 20, 2026, 14:08 EDT
- Joby rose 3.4% at the open, while Archer Aviation NYSE:ACHR surged 20.2%.
- Initial increases in market value were approximately $231 million and $686 million, respectively.
- Joby’s hybrid prototype has completed a flight, while Archer’s Thunder is aiming for an inaugural flight in 2027.
Joby gained 3.4% on Monday, while Archer’s market capitalization increased by nearly three times as much. U.S. core trading hours were still underway at the dateline.
Joby is estimated to have gained close to $231 million. Archer saw an increase of about $686 million following the launch of Thunder alongside private defense firm Anduril.
The difference is significant as Joby’s hybrid demonstrator has completed its first flight, while Thunder aims for a maiden flight in 2027.
The most recent comparison provided was:
| Metric | Joby | Archer |
|---|---|---|
| Share price | $7.48 | $5.34 |
| Monday move | +3.4% | +20.2% |
| Market capitalization | $7.05 billion | $4.09 billion |
| Estimated value added | Roughly $231 million | Roughly $686 million |
| Hybrid-platform flight status | Completed 148-mile transition flight | Thunder’s first flight scheduled for 2027 |
The value-added figure is based on constant share counts. Aircraft programs should not be considered directly comparable.
However, trading on Monday indicates investors responded to the program’s detailed specifics. The premium was not awarded solely based on flight maturity.
Archer and Anduril showcased Thunder at the Farnborough Airshow. The autonomous attack rotorcraft is intended to operate alongside manned aircraft.
CEO Adam Goldstein told Reuters, “We built a very specific aircraft for that need.” Archer expects to announce the platform’s initial commercial customers later this week. Reuters
The firms have conducted tests on full-size surrogate aircraft. The first flight for Thunder is scheduled for 2027.
Joby’s turbine-electric demonstrator made its maiden flight in November before achieving a 148-mile transition flight at full takeoff weight.
Joby is working alongside L3Harris Technologies NYSE:LHX to modify the platform. The two companies plan to hold government mission demonstrations in 2026.
Joby’s updates emphasized demonstrations instead of addressing procurement costs. Archer’s latest customer news now offers a more immediate gauge of valuation.
Joby reported cash and short-term investments of $2.47 billion as of March 31. Operating cash outflow in the first quarter totaled $144.4 million, while capital expenditures amounted to $77.9 million.
Risks are still significant. The sector continues to face certification setbacks, infrastructure challenges and the need for capital. Joby notes that upcoming financing could involve either debt or equity, which might result in shareholder dilution.
Joby could see a more substantial defense rerating if a specific buyer is identified. Factors such as contract size or the timeline for deployment would likely have greater significance.
Related articles: NYSE:ACHR
