Joby Aviation, Inc. (NYSE:JOBY) stock is surging on Monday, primarily due to building excitement around its newly finalized mass-manufacturing alliance with Toyota Motor Corp. (NYSE:TM). The Nasdaq is up 1.71% while the S&P 500 has gained 0.82%.
Toyota Partnership Drives Commercial Production Strategy
The upward momentum follows the creation of the joint venture, Joby Toyota Aero Manufacturing Preparation Company, designed to support commercial production and scale-up of Joby’s electric air taxi aircraft. The entity combines Joby’s electric aviation development with Toyota’s production systems.
Toyota holds a 51% stake in the venture after purchasing 1.02 million shares for $1.02 million, while Joby holds a 49% stake after acquiring 980,000 shares for $980,000. This builds upon a multi-year collaboration and follows Toyota’s $500 million investment in Joby in late 2024 to fund aircraft certification and early-stage production.
High Short Interest
Benzinga data shows short interest in Joby Aviation increased during the last reporting period, rising from 88.95 million to 100.74 million. This position places 15.36% of the company’s publicly available shares short.
Based on the recent average volume of 30.62 million shares traded per day, it would take 3.29 days for short sellers to close out their positions without driving the stock higher.
Q2 Financial Outlook and Certification Milestones
Joby Aviation is developing an all-electric vertical take-off and landing air taxi to operate global services and sell aircraft to partners. The company is expected to report its second-quarter earnings on August 5. Analysts estimate a loss per share of 23 cents and quarterly revenue of $29.07 million.
Critical Levels To Watch for JOBY Stock
From a trend perspective, JOBY is still working back from a longer-term downtrend: it’s trading about 24% below its 200-day SMA ($12.27) and remains below its 50-day SMA ($9.89) and 100-day SMA ($9.62). The stock is only slightly above its 20-day SMA ($9.24), which often acts like a “line in the sand” for short-term control.
Momentum is best framed through RSI, which sits at 47.89—neutral and consistent with a stock that’s trying to stabilize rather than break into a clean uptrend. RSI measures how stretched a move is versus recent price action, and a reading near 50 typically signals a tug-of-war between buyers and sellers.
The moving-average structure still leans bearish, with the 20-day SMA below the 50-day SMA and a death cross in February (50-day SMA below the 200-day SMA) keeping longer-term trend followers cautious. Key turning points also matter here: after a swing low in April and a swing high in May, the stock broke above resistance in May but then broke below support in June—setting up the current rebound attempt as a “repair” move.
- Key Resistance: $10.50 — a nearby round-number zone that also sits above the 50-day/100-day area where rebounds can stall
- Key Support: $9.00 — a nearby round-number level close to the short-term moving-average cluster where buyers may try to defend pullbacks
JOBY Stock Price Activity: Joby Aviation shares were up 10.38% at $9.37 at the time of publication on Monday, according to Benzinga Pro data.
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