Joby Aviation Faces Challenges Amid Market Downturn
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 30 2024
0mins
Source: Coinmarketcap
Joby Aviation Inc. has seen its stock price decline by 5.02%, hitting a 5-day low, as broader market conditions weigh heavily on investor sentiment.
Despite the promising growth potential in the eVTOL market, with projections reaching $28.6 billion by 2030, Joby faces significant challenges. The company's stock has dropped over 22% recently, attributed to a cash burn of $144 million in Q1 2026. Although Joby has made strides in FAA-compliant flight testing and has strategic partnerships with Uber and Delta Airlines, the current market weakness has overshadowed these developments, leading to a sector rotation that negatively impacts Joby's stock performance.
The implications of these developments suggest that while Joby Aviation is positioned well for future growth, the immediate market environment poses risks that could hinder its stock recovery. Investors may need to exercise caution as the company navigates through its cash flow challenges and the broader economic landscape.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy JOBY?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on JOBY
Wall Street analysts forecast JOBY stock price to rise
6 Analyst Rating
1 Buy
3 Hold
2 Sell
Hold
Current: 10.400
Low
8.00
Averages
15.67
High
22.00
Current: 10.400
Low
8.00
Averages
15.67
High
22.00
About JOBY
Joby Aviation, Inc. is a transportation company developing an all-electric, vertical take-off and landing air taxi. The Company is engaged in designing and testing a piloted all-electric, vertical take-off and landing (eVTOL) aircraft. The Joby eVTOL is designed to transport a pilot and up to four passengers or an expected payload of up to 1,000 pounds at speeds of up to 200 miles per hour (mph). The aircraft is optimized for urban routes, with a target range of up to 100 miles on a single charge. The Company plans to manufacture, own and operate its aircraft itself, building a vertically integrated transportation company that delivers transportation services to customers, including government agencies such as the United States Air Force (USAF) through sales or contracted operations, and to individual end-users through a convenient app-based aerial ridesharing service. It also offers a network of terminals and loyal flyers in markets like New York and in Southern Europe.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Uber's Potential in the Robotaxi Market
- Massive Market Potential: According to Precedence Research, the global robotaxi market is expected to soar from $4.4 billion in 2025 to $188.9 billion by 2034, indicating significant growth opportunities for Uber in this emerging sector.
- Vehicle Procurement Strategy: Uber plans to purchase 10,000 robotaxi vehicles from Rivian and an additional 40,000 by 2030, along with a deal to acquire at least 35,000 vehicles from Lucid, demonstrating its proactive positioning in the competitive landscape.
- Data and Branding Advantage: Uber leverages its vast ride data to support autonomous vehicle manufacturers in training for navigation in high-traffic environments, while its app provides an instant customer base for robotaxi services, enhancing market entry ease.
- Competition and Challenges: Despite Uber's potential in the robotaxi market, its stock price has fallen about 20% over the past 12 months, reflecting challenges amid increasing competition and regulatory hurdles, necessitating careful risk assessment by investors.
See More
Uber's Strategic Positioning in the Robotaxi Market
- Significant Revenue Growth: Uber's revenue surged from $6.5 billion in 2016 to over $52 billion by 2025, with net income projected to exceed $10 billion, indicating strong growth potential in the market.
- Robotaxi Market Outlook: According to Goldman Sachs, the number of robotaxis in the U.S. is expected to reach 35,000 by 2030, accounting for 8% of the rideshare market, with the global market valued at $4.4 billion in 2025 and projected to skyrocket to $188.9 billion by 2034.
- Strategic Partnerships: Uber plans to purchase up to 50,000 robotaxi vehicles from Rivian and Lucid Group, leveraging its data and branding to support autonomous vehicle manufacturers, thereby positioning itself advantageously in the competitive landscape.
- Diversified Investment Opportunities: Beyond robotaxis, Uber is collaborating with Joby Aviation on air taxis and investing in electric scooter and bike company Lime, showcasing its diversified strategy in the future mobility sector.
See More
Joby Aviation: The Future of Flying Taxis
- Market Potential: Joby Aviation's acquisition of Blade Air Mobility provides a foothold in the potential eVTOL market, with the $125 million deal contributing significantly to its first-quarter sales of $24 million, despite Blade's minimal profits.
- Production Control: Unlike Blade, Joby aims to control the entire production process, from manufacturing eVTOL parts to managing its booking platform, which positions it advantageously in the competitive landscape, especially regarding regulatory approvals for electric vertical takeoff and landing aircraft.
- Consumer Habit Formation: Joby must cultivate a consumer habit of flying to the airport, particularly when time is of the essence, which is crucial for its success; future ride costs are expected to be comparable to ground transportation, enhancing attractiveness.
- Partnership Opportunities: Joby's collaboration with Uber presents a significant opportunity to become the preferred eVTOL service; despite facing regulatory hurdles and infrastructure challenges, successful execution could secure a strong position in the $9 trillion eVTOL market projected by Morgan Stanley in 2021.
See More
Joby Aviation Acquires Blade to Propel eVTOL Market
- Strategic Acquisition of Blade: Joby Aviation's $125 million acquisition of Blade Air Mobility, while not immediately profitable, provides a crucial revenue stream that supports Joby's positioning in the future eVTOL market.
- Market Positioning and User Habits: By controlling the production and booking processes of its eVTOLs, Joby aims to normalize the flying experience to the airport, enhancing market acceptance, especially when time is of the essence.
- Data Collection and Analysis: The operation of Blade allows Joby to gather user preference data, analyzing when and where people prefer flying over public transit, which will inform future market strategies.
- Market Potential and Investment Opportunity: With Morgan Stanley valuing the eVTOL market at $9 trillion, Joby is seen as one of the best opportunities for tripling investments at its current price of around $10, despite facing regulatory and infrastructure development risks.
See More
Joby Aviation: Potential of Future Aerial Mobility
- Massive Market Potential: Joby Aviation aims to tackle traffic congestion with its electric vertical takeoff and landing (eVTOL) flying taxis, targeting a share of the urban mobility market projected to reach $9 trillion by 2050, which could significantly enhance its market position if successful.
- Slow Progress: Although Joby began FAA-compliant aircraft flight testing in 2026 and plans to conduct 'for credit' testing, it still faces delays in obtaining a commercial license, which could hinder its early operational capabilities.
- White House Program Support: Joby's involvement in a White House initiative designed to accelerate commercial operations for eVTOL manufacturers is expected to facilitate the launch of early operations in U.S. cities by 2026, thereby enhancing its competitive edge in the market.
- Valuation Risks: With a current market cap of approximately $9 billion and stock prices ranging from $9 to $10, Joby lacks sufficient revenue to justify its valuation, prompting investors to exercise caution and wait for regulatory approval before considering investment.
See More
Joby Aviation Joins White House eVTOL Initiative
- Significant Market Potential: Joby Aviation aims to operate eVTOLs in U.S. cities by late 2026, with the urban mobility market projected to reach $9 trillion by 2050, potentially capturing a substantial market share if successful.
- Flight Testing Progress: Joby began flight testing its FAA-conforming aircraft in March 2026 and expects to start 'for credit' testing later that year, both crucial steps toward obtaining the commercial license needed for passenger operations.
- Experience from Acquisition: By acquiring Blade Air Mobility, Joby currently operates helicopter services, gaining valuable experience on routes like Manhattan to JFK, which will support its future eVTOL operations with essential data.
- Valuation Risks: Despite Joby's current share price ranging from $9 to $10, its $9 billion market cap appears excessively high for a startup with minimal revenue, prompting investors to carefully consider its commercialization prospects.
See More
Uber's Potential in the Robotaxi Market
- Massive Market Potential: According to Precedence Research, the global robotaxi market is expected to soar from $4.4 billion in 2025 to $188.9 billion by 2034, indicating significant growth opportunities for Uber in this emerging sector.
- Vehicle Procurement Strategy: Uber plans to purchase 10,000 robotaxi vehicles from Rivian and an additional 40,000 by 2030, along with a deal to acquire at least 35,000 vehicles from Lucid, demonstrating its proactive positioning in the competitive landscape.
- Data and Branding Advantage: Uber leverages its vast ride data to support autonomous vehicle manufacturers in training for navigation in high-traffic environments, while its app provides an instant customer base for robotaxi services, enhancing market entry ease.
- Competition and Challenges: Despite Uber's potential in the robotaxi market, its stock price has fallen about 20% over the past 12 months, reflecting challenges amid increasing competition and regulatory hurdles, necessitating careful risk assessment by investors.
See More
Uber's Strategic Positioning in the Robotaxi Market
- Significant Revenue Growth: Uber's revenue surged from $6.5 billion in 2016 to over $52 billion by 2025, with net income projected to exceed $10 billion, indicating strong growth potential in the market.
- Robotaxi Market Outlook: According to Goldman Sachs, the number of robotaxis in the U.S. is expected to reach 35,000 by 2030, accounting for 8% of the rideshare market, with the global market valued at $4.4 billion in 2025 and projected to skyrocket to $188.9 billion by 2034.
- Strategic Partnerships: Uber plans to purchase up to 50,000 robotaxi vehicles from Rivian and Lucid Group, leveraging its data and branding to support autonomous vehicle manufacturers, thereby positioning itself advantageously in the competitive landscape.
- Diversified Investment Opportunities: Beyond robotaxis, Uber is collaborating with Joby Aviation on air taxis and investing in electric scooter and bike company Lime, showcasing its diversified strategy in the future mobility sector.
See More
Joby Aviation: The Future of Flying Taxis
- Market Potential: Joby Aviation's acquisition of Blade Air Mobility provides a foothold in the potential eVTOL market, with the $125 million deal contributing significantly to its first-quarter sales of $24 million, despite Blade's minimal profits.
- Production Control: Unlike Blade, Joby aims to control the entire production process, from manufacturing eVTOL parts to managing its booking platform, which positions it advantageously in the competitive landscape, especially regarding regulatory approvals for electric vertical takeoff and landing aircraft.
- Consumer Habit Formation: Joby must cultivate a consumer habit of flying to the airport, particularly when time is of the essence, which is crucial for its success; future ride costs are expected to be comparable to ground transportation, enhancing attractiveness.
- Partnership Opportunities: Joby's collaboration with Uber presents a significant opportunity to become the preferred eVTOL service; despite facing regulatory hurdles and infrastructure challenges, successful execution could secure a strong position in the $9 trillion eVTOL market projected by Morgan Stanley in 2021.
See More
Joby Aviation Acquires Blade to Propel eVTOL Market
- Strategic Acquisition of Blade: Joby Aviation's $125 million acquisition of Blade Air Mobility, while not immediately profitable, provides a crucial revenue stream that supports Joby's positioning in the future eVTOL market.
- Market Positioning and User Habits: By controlling the production and booking processes of its eVTOLs, Joby aims to normalize the flying experience to the airport, enhancing market acceptance, especially when time is of the essence.
- Data Collection and Analysis: The operation of Blade allows Joby to gather user preference data, analyzing when and where people prefer flying over public transit, which will inform future market strategies.
- Market Potential and Investment Opportunity: With Morgan Stanley valuing the eVTOL market at $9 trillion, Joby is seen as one of the best opportunities for tripling investments at its current price of around $10, despite facing regulatory and infrastructure development risks.
See More
Joby Aviation: Potential of Future Aerial Mobility
- Massive Market Potential: Joby Aviation aims to tackle traffic congestion with its electric vertical takeoff and landing (eVTOL) flying taxis, targeting a share of the urban mobility market projected to reach $9 trillion by 2050, which could significantly enhance its market position if successful.
- Slow Progress: Although Joby began FAA-compliant aircraft flight testing in 2026 and plans to conduct 'for credit' testing, it still faces delays in obtaining a commercial license, which could hinder its early operational capabilities.
- White House Program Support: Joby's involvement in a White House initiative designed to accelerate commercial operations for eVTOL manufacturers is expected to facilitate the launch of early operations in U.S. cities by 2026, thereby enhancing its competitive edge in the market.
- Valuation Risks: With a current market cap of approximately $9 billion and stock prices ranging from $9 to $10, Joby lacks sufficient revenue to justify its valuation, prompting investors to exercise caution and wait for regulatory approval before considering investment.
See More
Joby Aviation Joins White House eVTOL Initiative
- Significant Market Potential: Joby Aviation aims to operate eVTOLs in U.S. cities by late 2026, with the urban mobility market projected to reach $9 trillion by 2050, potentially capturing a substantial market share if successful.
- Flight Testing Progress: Joby began flight testing its FAA-conforming aircraft in March 2026 and expects to start 'for credit' testing later that year, both crucial steps toward obtaining the commercial license needed for passenger operations.
- Experience from Acquisition: By acquiring Blade Air Mobility, Joby currently operates helicopter services, gaining valuable experience on routes like Manhattan to JFK, which will support its future eVTOL operations with essential data.
- Valuation Risks: Despite Joby's current share price ranging from $9 to $10, its $9 billion market cap appears excessively high for a startup with minimal revenue, prompting investors to carefully consider its commercialization prospects.
See More
