Why Joby Aviation (JOBY) Stock Is Moving Upwards?

Oct 6 - Joby Aviation JOBY saw its stock climb nearly 5% on Monday morning following weekend demonstration flights of its all-electric air taxi at the California International Airshow in Salinas.

Investors responded positively to the company showcasing its aircraft's vertical takeoff and landing, smooth cruise transitions, and quiet operation, features critical for future urban air mobility services.

The aircraft flew round trips between Marina and Salinas, giving attendees an up-close view of its capabilities. These California demonstrations complement ongoing flights in Osaka, Japan, with ANA Holdings, which will continue through October 13.

Founder and CEO JoeBen Bevirt emphasized how observing the aircraft in person highlights the potential of urban air transport. Joby has conducted over 40,000 miles of demonstrations globally, including Dubai, South Korea, and New York City.

The White House eVTOL Integration Pilot Program makes the company a participant that expedites rolling out electric vertical takeoff and landing aircraft. The flight testing of the FAA type inspection authorization should be early next year. In the meantime, Blade Urban Air Mobility will service the flights, which will deliver approximately 3,000 passengers to the 2025 Ryder Cup. Analysts, such as Cantor Fitzgerald, hold a neutral rating on JOBY.