Joby Aviation's 2.58% Gain on $650M Volume Propels It to 174th in Market Activity Rankings

On October 3, 2025, Joby Aviation (JOBY) closed with a 2.58% increase, trading on a volume of $650 million, ranking 174th in market activity. The stock's performance reflected investor focus on its regulatory and operational progress following recent developments in the eVTOL sector.

Recent updates highlighted Joby's collaboration with key infrastructure partners to advance charging network deployment. The company also announced expanded test flight schedules in California, signaling accelerated commercialization timelines. These developments align with its 2025 revenue guidance, which remains a critical focus for institutional investors tracking sector adoption rates.

Regulatory updates included confirmation of continued FAA engagement regarding certification pathways. While no concrete timelines were disclosed, analysts noted the absence of new technical hurdles in public filings. Market participants interpreted this as a positive signal for 2026 launch preparations, though liquidity constraints in the broader eVTOL space continue to temper aggressive position-taking.

To perform this back-test rigorously I need to clarify a few practical details: 1. Stock universe - Should we consider all U.S. common stocks that had an official quote each day, or a narrower list (e.g., the Russell 3000 constituents, NYSE + NASDAQ only, etc.)? 2. Re-balancing mechanics - Entry price: buy at that day’s official close, or at next day’s open? 3. Weighting scheme: equal-weight each of the 500 names, or weight by dollar volume, or something else? 4. Slippage / commission assumptions (if any). Once I have these clarifications I can generate the signal file and run the back-test from 2022-01-03 (first trading day of 2022) through today.