Joby Aviation Stock: Should You Buy the Dip?

By David Jagielski, CPA – Mar 3, 2026 at 12:00PM ESTKey PointsJoby Aviation plans to fly its first customers later this year, in Dubai.It has also been making progress towards the certification of its aircraft in the U.S.The stock, however, is down more than 50% from its 52-week high.Joby Aviation (JOBY 2.48%) stock entered 2026 with high expectations. The electric vertical take-off and landing (eVTOL) company hopes to commence its air taxi operations this year and potentially obtain certification in the U.S. market. But despite these possible milestones, investors don't appear too excited, at least not yet. As of Monday's close, the stock is down 22% this year. The company has some encouraging long-term growth prospects as it looks to be an early leader in the eVTOL market, but investor sentiment seems to have cooled of late. Could this be an opportune time to buy the stock at a reduced price? Image source: Getty Images. Multiple catalysts could be coming soon Last month, Joby released its latest earnings numbers and also gave investors updates with respect to its progress toward launching its operations. The company expects that it will commence air taxi operations in Dubai this year and begin flying its first customers there. It also continues to make progress toward certification with the Federal Aviation Administration (FAA) in the U.S., noting that "all of the aircraft required for Type Inspection Authorization are also now in production." Progress on either of these two fronts this year could give the eVTOL stock a boost in the near future and be a clear sign that the business is moving in the right direction. But a rally is by no means a guarantee, as the stock is already fairly highly valued and the market may already be pricing in these developments. ExpandNYSE: JOBYJoby AviationToday's Change(-2.48%) $-0.26Current Price$10.02Key Data PointsMarket Cap$9.9BDay's Range$9.55 - $10.0552wk Range$4.96 - $20.95Volume1.5MAvg Vol25MGross Margin-3006.27% Why investors may want to hold off on buying Joby's stock Joby is making progress with its aircraft, but the reality is that it's still in the very early innings of growing its operations. While it would be monumental for it to fly its first passengers and to obtain FAA certification, that will simply get it to the starting line. But beyond that, there are bigger questions ahead, such as how strong demand will be for its air taxi services, how much money they will generate, and how long it might take for Joby to turn a profit. Until there's some clarity about each one of those metrics, there's bound to be significant risk and volatility with the stock. Meanwhile, investors are pricing the stock as if its future success is a certainty. With a market cap of around $10 billion, Joby's valuation is already fairly high for an unproven business. At this type of valuation, there is significant downside risk for investors and virtually no room for error. This is a stock that's worth watching, but it may be too early to invest in Joby just yet. Read NextMar 3, 2026 •By John BromelsArcher Aviation vs. Joby Aviation: Which One Will Dominate the Next Decade?Feb 27, 2026 •By Lee SamahaBattle Royale: Joby Aviation vs. Boeing.

Only One Can Make You Rich.Feb 27, 2026 •By Leo SunThe eVTOL Era is Beginning With Uber and Joby Aviation. Here's Everything Investors Need to Know.Feb 26, 2026 •By Bram BerkowitzUber and Joby Aviation Just Confirmed That Air Taxis Will Launch in Dubai in 2026. Is Now the Time to Buy?Feb 26, 2026 •By Rich SmithWhy Joby Aviation Stock Floated Higher TodayFeb 14, 2026 •By Lee SamahaIs Nvidia Set to Help Joby Aviation Become the Tesla of the Skies?About the AuthorDavid Jagielski, CPA, has been a contributing Motley Fool stock market analyst covering healthcare, consumer staples, consumer discretionary, and technology stocks since 2017. David has more than 10 years of experience in finance roles across businesses of different sizes and sectors. He holds a Certified Public Accountant designation in Canada.TMFdjagielskiStocks MentionedJoby AviationNYSE: JOBY$10.02(-2.48%)-$0.26*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.