Joby stock is on a tear this July, jumping 12% on Wednesday as it flirts with a new all-time high for the second day in a row.
The rally comes amid renewed investor excitement over the company’s progress in electric air mobility, with growing confidence in its technology, expansion plans, and foothold in the fast-evolving eVTOL market.
Joby stock hit a new 52-week high of $13.62 in mid-July, pushing its market cap past $10.6 billion.
Then on July 15, it tacked on another 10.45%, closing at $13.95. That’s not a fluke. Shares are now up 169% over the past three months and have climbed in eight of the last ten trading sessions.
Trading was heavy too, with more than 44 million shares changing hands in a single day. Safe to say: the bulls are in control.
Joby stock surges: Catalysts fueling the rally
Joby’s German arm, H2FLY, just pulled off something big: a 523-mile flight powered by hydrogen-electric tech, with nothing but water vapor coming out the other end.
It’s a major step forward in zero-emission aviation and a clear sign that Joby’s ambitions go way beyond just short-hop air taxis.
By tapping into the much bigger market for regional air travel, the company could be setting itself up for a whole new wave of growth.
Investors are taking notice, seeing Joby as a “dual-threat” story: commercial launches in the near term, and a potential leadership position in longer-range electric flight down the line.
Joby’s not just flying high, it’s building faster too. The company recently doubled production at its main facility in California, which can now roll out up to 24 aircraft a year.
At the same time, it’s laying the groundwork for a much bigger push in Dayton, Ohio, where a new site is being scaled to eventually produce as many as 500 aircraft annually.
It’s a clear signal that Joby is gearing up for serious volume as demand for electric air travel grows.
Joby recently pulled off a series of successful manned VTOL demos in Dubai, signaling it’s getting close to launching commercial operations in the Middle East by 2026.
The milestone helped earn the company fresh buy ratings and price target hikes from a few major analysts—another vote of confidence in its progress.
What’s the forecast?
That said, Wall Street’s official targets are still lagging behind the stock’s sharp rally.
The current analyst consensus sits in the $9–13 range, with H.C. Wainwright at $13, Canaccord at $12, and Cantor Fitzgerald at $9.
But the market seems to be looking further ahead, pricing in Joby’s expanding total addressable market and its lowered long-term risk after the hydrogen breakthrough.
It’s a classic case of the market running ahead of the models, something you often see with high-upside, disruptive tech plays.
Sentiment around Joby is clearly bullish right now. The stock has broken out of its earlier trading range, and charts point to $14.06 as the next key resistance level.
It’s a volatile name; beta sits at 2.47, but under the hood, the company’s fundamentals are solid.
Joby is running a healthy 53% gross margin and has plenty of liquidity to back its growth plans, with a current ratio of 17.7. In other words, it’s got the balance sheet to match the buzz.
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