Joby Aviation, Inc. (NYSE:JOBY) touched a fresh 52-week low of $6.25 on Thursday, even as the company kicked off a month-long, 10-state autonomous flight tour meant to prove its technology is ready for real-world use.
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Coast-To-Coast Tour Begins
Joby’s autonomous J208 aircraft, a converted Cessna Caravan, launched a coast-to-coast tour spanning Phoenix, Fort Worth, Shaw Air Force Base, the Outer Banks, Raleigh, the Washington D.C. region, Louisville, Wichita, Oklahoma City, Salt Lake City and Portland.
The aircraft is also on display in Fort Worth Thursday for the launch of the White House-backed eVTOL and AAM Integration Pilot Program, an event hosted by U.S. Transportation Secretary Sean Duffy.
Joby is leaning on a real operational track record to sell the story. The J208 has logged more than 400 flights and 800 automated flight hours, and it has taken part in three U.S. military exercises, including a Pacific logistics drill last August where ground controllers in Guam flew the aircraft from nearly 4,000 miles away.
CEO JoeBen Bevirt framed the tour as proof the technology can move from military testing to everyday use, saying autonomous flight can “transform how we deliver essential supplies, respond to emergencies and support our servicemen and women.”
Wall Street Still Unconvinced
The market has not rewarded that narrative yet. Analyst ratings on Joby are split among two Hold, two Sell and two Buy calls, and price targets ranging from $7 to $18 with a $10.56 average, according to Benzinga data.
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The tour gives Joby a chance to shift attention from capital-raising headlines back to commercial traction. Stops in North Carolina support a statewide medical-logistics initiative, while stops in Utah, Arizona, Oklahoma and Oregon feed a five-state coalition gathering data for future FAA airspace rules. A Louisville stop at UPS Worldport puts the freight case front and center.
None of that moved Joby’s stock Thursday. A new 52-week low, set on the same day as a marquee government event, suggests investors are still waiting for autonomous flight to translate into revenue rather than headlines.
JOBY Stock Price Activity: Joby stock was down 1.56% at $6.32 at the time of publication on Thursday, according to Benzinga Pro market data.
Photo courtesy of Joby Aviation, Inc.
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