Home / Business and Economy / Stock drops 75%, but Joby's passenger flights loom
Stock drops 75%, but Joby's passenger flights loom
22 Oct
Summary
- Joby Aviation's stock has fallen approximately 68% this year.
- The company is in the final stage of FAA certification for eVTOL aircraft.
- Joby aims to carry paying passengers by the end of 2026.
Joby Aviation has experienced a substantial downturn on Wall Street, with its stock value plummeting by approximately 68% since the beginning of the year. Despite this significant loss in investor confidence, the company is on the cusp of a major achievement: launching commercial passenger flights.
Joby is currently progressing through the fifth and final stage of the FAA type certification process. It is also actively participating in the White House-backed eVTOL Integration Pilot Program (eIPP), which could enable the commencement of paid passenger services before the close of 2026.
The company is also scaling up its manufacturing capabilities. With assistance from partner Toyota, Joby aims to produce four aircraft per month by 2027. This increased production could establish a sizable fleet by 2029, potentially enhancing investor confidence through increased visibility in major metropolitan areas.
Looking ahead, Joby Aviation is projected to significantly increase its revenue, with expectations of exceeding $400 million annually within two years. The planned acquisition of Resonant Sciences, which generated over $100 million in revenue in the past 12 months, could further contribute to Joby's financial growth by 2029.
