Is Joby Aviation Stock Yesterday's News?​

By Reuben Gregg Brewer – Feb 12, 2026 at 6:30AM ESTKey PointsJoby Aviation is attempting to build a business around what amounts to air taxis.The stock price is down nearly 50% from its 52-week high.We’re bullish on these 10 stocks ›NYSE: JOBYJoby AviationMarket Cap$9.7BToday's Changeangle-down(-1.42%) $0.14Current Price$10.09Price as of February 11, 2026 at 3:58 PM ETJoby Aviation is a money-losing start-up, and investors appear to have taken a dimmer view of the future.Joby Aviation (JOBY 1.42%) is one of several companies seeking approval for an electric vertical takeoff and landing (eVTOL) aircraft. Essentially, it is competing to build and operate air taxis. It could be an exciting development in the transportation space, but there's a long way to go before the company is sustainably profitable. How is Joby Aviation doing? Joby Aviation is making steady progress toward its big goal of regulatory approval for its eVTOL aircraft. It conducted hundreds of test flights in 2025 and is gearing up to start using simulators to train pilots. This is important progress. Image source: Getty Images. That said, Joby Aviation lost $1.01 per share through the first nine months of 2025. The loss was up from $0.53 per share of red ink in the same period of 2024. Given the early stage of the company's development, it seems likely that material losses will continue for the foreseeable future. An exciting idea, but it comes with a catch The problem here isn't the eVTOL concept. That remains an important opportunity in the transportation world. Flying over traffic instead of being stuck in it could be a game changer, especially if the integration of artificial intelligence allows eVTOL's to operate autonomously. So in that regard, Joby is not yesterday's news. ExpandNYSE: JOBYJoby AviationToday's Change(-1.42%) $-0.14Current Price$10.09Key Data PointsMarket Cap$9.7BDay's Range$9.67 - $10.2452wk Range$4.96 - $20.95Volume14KAvg Vol24MGross Margin-11490.90% However, getting the company from where it is today to sustainable profitability won't be easy or cheap. And investors seem worried, given that the stock price has fallen nearly 50% from its 52-week high. One of the big risks here is dilution, noting that Joby just recently announced that it is selling $600 million worth of convertible notes and 52,863,437 shares of common stock. Data by YCharts. It is hardly uncommon for a start-up to fund its growth through equity and debt. In fact, the whole reason Joby went public was to tap the capital markets for cash. However, each new share that gets issued dilutes existing shareholders. Probably best for most investors to wait Given the still-uncertain future here, it appears Wall Street has adopted a "show me" attitude. In other words, Joby needs to hit more development milestones before investors get excited about the stock again. However, for most investors, waiting until Joby turns sustainably profitable will probably be a better choice than trying to get in early. If the company's air taxis take off, the opportunity is likely to be long-term and not a one-time event.Read NextFeb 11, 2026 •By Rick OrfordPrediction: This Aviation Stock Could Double if This HappensFeb 6, 2026 •By David Jagielski, CPADown 50% From Its High, Could Now Be an Opportune Time to Buy Joby Aviation Stock?Feb 4, 2026 •By Rick OrfordPrediction: Joby Stock Could Soar 40% by 2026Feb 2, 2026 •By Courtney CarlsenWill 2026 Be the Year Joby Aviation Takes Off?Jan 31, 2026 •By Lee SamahaThis Stock Faces Big Risks, but Also Big Potential UpsideJan 30, 2026 •By Rick MunarrizCathie Wood Goes Bargain Hunting: 3 Stocks She Just BoughtAbout the AuthorReuben Gregg Brewer is a contributing Motley Fool stock market analyst covering energy, utilities, REITs, and consumer staples. He is the former director of research at Value Line Publishing, where he rose from mutual fund analyst to equity analyst before leading all research operations. Reuben holds a bachelor’s degree in psychology from SUNY Purchase, a master’s in social work from Columbia University, and an MBA from Regis University. He has been featured as a financial expert on CNBC and in the Financial Times, Barron’s, and InvestmentNews.TMFReubenGBrewerStocks MentionedJoby AviationNYSE: JOBY$10.09 (1.42%) $0.14*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.