Joby Aviation Stock Dips Amid Share Offering, Market Reacts to Dilution

Joby Aviation's shares fell sharply in pre-market trading following the announcement of a $513.9 million public offering. The electric air-taxi company priced 30.5 million shares at $16.85 each, with an additional 4.6 million shares potentially available to underwriters. While the capital injection supports aircraft certification and manufacturing, investors balked at the near-term dilution of existing holdings.

The stock dropped over 10% pre-market, compounding a 4% decline from the previous session. Despite the selloff, Joby remains a high-flier—shares have surged 230% in the past year as Optimism builds around FAA certification and the nascent urban air mobility sector. Analysts maintain a cautious stance, with TipRanks showing just one Buy rating against five Holds.