Why Joby Aviation Stock Is Losing Altitude Today
Joby Aviation (NYSE: JOBY) is selling additional shares to add to its cash coffers, meaning each existing share is worth a little less today than it was yesterday. Investors had a negative reaction to the news, sending Joby shares down 14% as of 10:15 a.m. ET.
Joby Aviation Stock Stalls After Public Offering
Joby Aviation Inc (NYSE:JOBY) stock is 13.3% lower to trade at $5.24 after the electric air taxi company priced an underwritten public offering of 40 million shares at $5.05 per share. JOBY is pacing for its worst single-session percentage drop since July 2023, and is now down 22% in 2024, though there's support from the $5.10 level in place.
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