Cathie Wood’s ARK Invest Loads Up On Joby Aviation Stock Ahead Of Florida Air Taxi Flight

• ARK Invest bought 263,693 Joby shares for a potential $1.3 million.  
• Cathie Wood highlighted eVTOL technology’s potential to cut travel times. 
• Joby plans to retrace the historic 1914 St. Petersburg-to-Tampa commercial flight route with its electric aircraft. 

Cathie Wood’s ARK Invest bought 263,693 shares of Joby Aviation (JOBY) on Thursday, ahead of the company’s planned electric air-taxi flight across Tampa Bay, Florida, on Friday. The demonstration will retrace the route of the world’s first commercial airline flight as Joby showcases its eVTOL (electric vertical takeoff and landing) technology. 

Joby Aviation stock traded over 1% lower overnight, ahead of Friday. The stock is on track for its best week since August, gaining 6.7%. 

Read Next

NVDA Stock Drops: Nvidia May Back Data Center Loan Its Own Customer, Analyst Sees Little Impact From Intel’s Weak Report

Yuvraj Malik

ARK Accelerates Joby Buying Spree 

ARK Invest purchased JOBY shares through two of its exchange-traded funds (ETFs), ARK Autonomous Technology & Robotics ETF (ARKQ) and ARK Space Exploration & Innovation ETF (ARKX). ARKQ acquired 180,133 Joby shares, while ARKX added another 83,560 shares. Together, the funds bought 263,693 shares of the electric aviation company for a potential $1.3 million, based on the stock’s last close. 

Coming immediately after a multi-million-dollar worth of accumulation since Monday, the aggressive buying spree signals institutional conviction in the company’s commercial flight trials, even as Joby faces cash burn and commercialization pressure. 

Joby Revisits Historic Aviation Route

On Friday, Joby is planning an electric flight demonstration that will take the aircraft from St. Petersburg across Tampa Bay to Tampa, following the path of the world's first scheduled commercial airline service, which began in 1914.

Wood highlighted the significance of the event in a post on X, saying “@ARKInvest is excited to attend @jobyaviation’s flight from our doorstep in St. Petersburg, Florida, across Tampa Bay. Joby is retracing the route of the first commercial airline flight in the world in 1914.”

Joby also highlighted the historical connection, noting that its upcoming demonstration comes 112 years after the original commercial flight between St. Petersburg and Tampa.

Wood also pointed to eVTOL aircraft's potential to reshape urban transportation. Wood believes the technology could shorten intercity travel times and eventually make air taxi services affordable enough to compete with conventional taxi rides.

Joby has gained momentum following its active involvement in the FAA’s Electric Powered-lift Integration Program (eIPP).  The company’s second-quarter revenue jumped 56% to $39 million.  Joby will report its Q3 earnings on Nov.4. 

JOBY Stock: Retail View 

On Stocktwits, retail sentiment around the stock remained ‘bearish’’.

A user said, “Shorts are screwed. Love it. Load up and make some easy money.”

JOBY stock has crashed 61% year-to-date. 

Read Next: Michael Burry Says 'Low Castle, High Chapel' Build-A-Bear May Not Be A 'Mall Dinosaur ' — 'There Is A Physical Moat To This Business'

For updates and corrections, email newsroom[at]stocktwits[dot]com.