- Cathie Wood’s ARK Investment bought 27,759 Joby shares across its ARKQ and ARKX ETFs, investing about $278,900.
- Joby gained attention after being selected for the White House-backed eVTOL Integration Pilot Program.
- The company is also advancing FAA certification, with its first FAA-conforming aircraft expected to fly shortly.
Shares of Joby Aviation Inc. (JOBY) rallied to their best day in a month on Monday as investors cheered new plans for early air taxi operations across several U.S. states, while Cathie Wood’s ARK Investment Management continued loading up on the stock.
JOBY stock snapped two sessions of losses on Monday to end over 5% higher at $10.04. Shares also gained another 4% in extended trading.
Cathie Wood’s ARK Adds Joby Shares
ARK Investment purchased additional JOBY shares on Monday through two of its exchange-traded funds, according to the Ark Invest Tracker on X. The ARK Autonomous Technology & Robotics ETF (ARKQ) bought 20,309 shares, while the ARK Space Exploration & Innovation ETF (ARKX) added 7,450 shares, bringing the combined purchase to 27,759 shares.
As per Joby Aviation’s last closing price, Wood invested about $278,900 in the company through the latest purchases, which came alongside other portfolio moves, including buying DraftKings shares while selling holdings in companies such as Nextdoor Holdings, PagerDuty, and Dassault Systèmes.
The latest transaction extends a broader buying streak for the electric air taxi developer. Over three sessions last week, ARK accumulated more than 835,000 Joby shares, worth roughly $8 million based on recent closing prices.
White House eVTOL Program Backs Joby
Investor attention turned to Joby’s after the company said it had been selected as a partner in several winning applications under the White House-backed Electric Vertical Takeoff and Landing Integration Pilot Program (eIPP).
The program will accelerate the rollout of electric air taxis in the U.S. by coordinating regulatory work between federal agencies and local authorities. Joby said the initiative could allow it to begin early operations as soon as 2026 in states including Arizona, Florida, Idaho, New Jersey, New York, North Carolina, Oklahoma, Oregon, Texas and Utah.
The projects will now move into an Other Transaction Authority (OTA) stage, where agreements and operational details will be finalized. Flights are expected to begin within about 90 days after those agreements are completed.
Joby is also progressing toward full certification from the Federal Aviation Administration. The company said its first FAA-conforming aircraft for Type Inspection Authorization (TIA) testing is expected to fly shortly, with FAA pilots expected to conduct certification test flights later this year.
The aircraft has already logged more than 9,000 miles of flight testing, including piloted flights that take off vertically, transition to wingborne cruise, and return to vertical landing.
Joby Sees Strong Global Demand
The developments follow Joby’s latest quarterly results, where the company reported fourth-quarter (Q4) revenue of $30.8 million, compared with $500,000 a year earlier.
"We continue to see significant demand for our product across the globe and during the quarter we signed a range of deals that will support early operations in key markets,” the company said in its quarterly report.
Joby expects to carry its first passengers in Dubai later this year, while a partnership with Uber will eventually allow riders to book electric air taxi flights directly through the Uber app.
To meet expected demand, the company plans to scale manufacturing to four aircraft per month by 2027, supported by expanded facilities in Marina, California, and Dayton, Ohio.
How Did Stocktwits Users React?
On Stocktwits, retail sentiment for JOBY shifted to ‘extremely bullish’ from the ‘bearish’ zone over the past day amid a 139% surge in 24-hour message volume.
One bullish user said, “If this gets anywhere close to $10 tomorrow, I’ll be dumping $100K into it.”
Another user speculated that the “price action indicates something big is looming here.”
JOBY stock has jumped 52% over the past year.
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