Joby Aviation Shares Tumble 7.53% on $370M Volume Ranking 266th Despite Historic eVTOL Flight Success

Joby Aviation (JOBY) fell 7.53% on August 19, 2025, with a trading volume of $370 million, down 22.08% from the previous day, ranking 266th in market activity. The decline followed the company’s completion of its first piloted eVTOL flight between two U.S. airports, Marina (OAR) and Monterey (MRY) in California. The 12-minute, 10-nautical-mile test included a five-minute hold at Monterey Airport for air traffic management, demonstrating integration into FAA-controlled airspace and adherence to commercial flight protocols.

The milestone, achieved alongside other aircraft, highlighted Joby’s progress toward certification by validating safety, operational procedures, and air traffic control coordination. The flight featured vertical takeoff, transition to wingborne flight, and controlled landing, marking a critical step in its commercial readiness. The company emphasized that ground support operations were conducted away from its base, underscoring its capability for mobile testing and scalability.

Joby’s CEO stated the test aligns with its broader certification roadmap, with the FAA requiring eVTOL operators to demonstrate shared airspace navigation. The company plans to begin FAA-led flight testing in early 2026 and aims to launch commercial services in Los Angeles and New York City post-certification. Strategic moves, including the acquisition of Blade Air Mobility’s passenger business, further position Joby for market entry by leveraging existing infrastructure and routes.

The strategy of buying the top 500 stocks by daily trading volume and holding them for one day resulted in a moderate return. The total profit from December 2022 to August 2025 was $2,940, with a maximum drawdown of -$1,960 during the same period. This indicates a volatile but ultimately positive performance, with the highest peak-to-trough decline being 19.6%.