Shares of US-based electric vertical takeoff and landing (eVTOL) manufacturer Joby Aviation fell by 12.43% in the last five days as competition intensifies in the race to bring air taxis to commercial service. Joby’s shares are currently trading at $16.28.

The slump occurred after the California-based company announced on October 7, 2025, that it planned to raise $514 million through the sale of 30.5 million shares at $16.85 each, representing a 10.9% discount to the stock’s previous closing price. Joby has been developing an all-electric, piloted S4 eVTOL aircraft, capable of carrying four passengers at speeds of up to 200 mph and covering a maximum of 150 miles per charge.

Capital Raised To Fuel Certification And Commercial Launch

Joby Aviation said it plans to use the money raised

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