Joby Aviation (JOBY) closed Friday at $10.92, up 5.0%, capping a week that saw shares gain approximately 5.4% before U.S. markets shut for Memorial Day. In after-hours trading, the stock edged down slightly to $10.84. The move comes as the electric air-taxi developer continues to navigate a critical phase of regulatory certification and cash management.
U.S. stock exchanges are closed Monday, May 25, for Memorial Day, leaving investors to assess the next leg of trading when markets reopen Tuesday. The timing adds an extra layer of uncertainty: the stock's Friday pop won't face immediate testing, and the broader market's appetite for speculative growth names remains a key variable.
The next scheduled company event is Joby's annual meeting on June 2. That gathering follows a first-quarter update that centered on three pillars: cash position, Federal Aviation Administration (FAA) certification progress, and early operational milestones in the U.S. and abroad.
In its first-quarter report, Joby disclosed $2.5 billion in cash, cash equivalents, and short-term investments. The company also completed a key FAA certification audit and flew its first FAA-conforming aircraft for Type Inspection Authorization testing, a stage tied to regulator evaluation of an aircraft design. CEO JoeBen Bevirt described the quarter as providing "the clearest path we've ever had to beginning passenger operations."
Despite these advances, the financial reality remains challenging. Joby reported revenue of $24.2 million for the March quarter and a net loss of $110.0 million. Net cash used in operating activities totaled $144.4 million. The company warned that if it cannot raise capital or generate sufficient cash, it may need to slow production, infrastructure, or research spending. That risk paragraph is one investors will continue to monitor closely.
The broader market provided a supportive backdrop on Friday. The S&P 500 rose 0.4%, logging its eighth straight weekly gain, while the Dow added 0.6% and the Nasdaq rose 0.2%, according to the Associated Press. For a stock like Joby, which often moves in sympathy with investor appetite for early-stage, high-spending technology companies, such tape is meaningful.
Joby is developing electric vertical takeoff and landing (eVTOL) aircraft, designed to lift like helicopters and fly forward like planes. The company has not yet reached routine commercial operations, so each certification and demonstration step is weighed against ongoing losses. The FAA and Transportation Department in March selected eight proposals for the eVTOL Integration Pilot Program, which aims to test next-generation aircraft in real operations and feed data into future rules. Joby appears alongside peers including Archer Aviation and BETA Technologies in several projects.
Reuters reported in March that Joby had begun flying its first production-model aircraft for certification testing, a milestone toward Type Inspection Authorization. The company is also targeting limited U.S. operations under the White House-backed program and has pointed to Dubai as another launch market.
For the week ahead, the calendar is thin but not empty. Markets reopen Tuesday after Memorial Day, and Joby's June 2 shareholder meeting sits just beyond the holiday week. Until then, the stock is likely to trade less on fresh company news and more on whether investors continue to pay up for air-taxi names before the next hard update arrives.
