Joby Aviation Inc (NYSE:JOBY) is soaring to new heights—literally and figuratively. The stock is making new 52-week highs on Monday, fueled by news of half a billion-dollar investment from Toyota Motor Corp (NYSE:TM).
Joby stock was up by over 10% by 10:30 AM ET on Monday.
Joby's meteoric rise — a staggering 54.75% gain in the past month and 42.34% over the last five days (both rising) — signals a market awakening to the future of air mobility.
Toyota's Half-Billion Dollar Lift
Toyota’s recent $500 million investment into the electric vertical takeoff and landing (eVTOL) technology company has electrified the buzz around Joby. The funding is earmarked to help Joby secure crucial flight certifications and ramp up commercial production of its futuristic air taxis. This isn't Toyota's first rodeo with Joby — their partnership dates back to 2019, with nearly $900 million in total investments so far, making Toyota a cornerstone of Joby's success.
"Today's investment builds on nearly seven years of collaboration between our companies," said Joby CEO JoeBen Bevirt. Toyota's support extends beyond cash, with the auto giant contributing expertise in manufacturing and process planning.
Together, they're chasing a shared vision of sustainable, urban air mobility.
From Helicopters To Hovercrafts
Joby's eVTOL aircraft, powered by six electric motors, is the eco-friendly answer to traditional helicopters. With zero emissions during operation and speeds of up to 200 mph, Joby's air taxi is designed to hold one pilot and four passengers. Compared to the carbon-heavy Airbus AS350 helicopter, which spews out 950 pounds of CO2 per hour, Joby's eVTOL slashes emissions by 52%, even when charged with non-renewable energy.
Joby Stock Investors Strap In
Joby's recent rally has pushed the stock price well above its short- and long-term moving averages, solidifying a bullish trend:
Chart created using Benzinga Pro
- Eight-day SMA (simple moving average): $6.43
- 20-day SMA: $5.76
- 50-day SMA: $5.59
- 200-day SMA: $5.36
With Joby stock at $7.80, every metric screams ‘bullish’. The MACD (moving average convergence/divergence) indicator of 0.42 adds to the technical enthusiasm.
Traders may want to watch for any signs of reversal as the RSI (relative strength index) in the overbought territory at 74.03, spelling caution.
What's Next For Joby Stock?
Beyond the stock chart excitement, Joby is making real-world strides. The company has completed production of its third aircraft and broken ground on a new California facility, set to double manufacturing capacity.
Earlier this year, Joby even showcased its air taxi in New York City, capturing imaginations and headlines alike.
Needham analysts recently initiated coverage with a Buy rating and a price target of $8, citing Joby's first-mover advantage in the emerging air taxi industry. Regulatory winds are also blowing in Joby's favor, with anticipated green lights from the FAA that could unlock a $3 billion market opportunity.
High Hopes, Higher Stakes
With Toyota's backing, innovative tech, and a bullish stock trajectory, Joby is positioned as a frontrunner in the race to revolutionize short-distance air travel.
But the stakes remain sky-high—securing regulatory approvals and achieving commercial viability are monumental tasks.
For now, though, Joby stock is flying high, and investors seem ready to go along for the ride.
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Image: Joby Aviation
