Joby Aviation reaches a new 52-week peak, prompting Jim Cramer to declare he will not oppose the surge
**Joby Aviation's Stock Surges Amidst Progress and Market Momentum**
Joby Aviation, the pioneering electric air taxi company, has witnessed a significant stock rally in recent weeks, with shares surging over 8% on July 8, 2025, and a cumulative gain of nearly 34% over the past two weeks[1][2]. This surge has been fuelled by a combination of market momentum and tangible progress in Joby's business.
The rally has been catalysed by several factors. A recent White House executive order to expand drone and electric air taxi operations in U.S. airspace has boosted the broader air mobility sector, including Joby[2]. Additionally, successful piloted flights of Joby’s electric air taxi in Dubai, marking concrete steps towards commercial readiness, have contributed to investor optimism[2].
Technically, the stock has broken a short-term upward trend and is showing strong momentum, with high trading volumes supporting the move[1].
Analysts note that Joby Aviation’s share price is increasingly reflecting its fundamental progress—specifically, milestones towards commercial launch and partnerships with local authorities[2][5]. However, while the company is making legitimate progress in operational readiness and regulatory groundwork, it is still pre-revenue and faces significant execution risks. The recent rally has narrowed the gap between share price and fundamentals, but some investors may view the stock as pricing in future growth ahead of actual commercial success[5].
Some market observers suggest that the share price is "catching up" to the company’s fundamentals, implying that while the rally is not entirely speculative, future gains will depend on continued execution and commercial rollout[5].
Notably, Jim Cramer, a widely followed market commentator, has expressed support for Joby Aviation (JOBY) shares, stating that he "won't fight" the momentum in JOBY shares, indicating his belief in their legitimacy[3]. H.C. Wainwright analyst Amit Dayal has reiterated a "Buy" rating on Joby Aviation stock with a price target of $13, suggesting another 12% upside[4].
Despite the recent rally, JOBY is currently trading at about 10x its book value per share, a notably higher ratio than that of rival Archer Aviation (ACHR)[6]. The success of the piloted tests in Dubai suggests legitimate progress in JOBY's aviation technology[7].
Joby Aviation also plans to expand its production capacity in partnership with Toyota(TM)[8]. However, it is important to note that the mean target on Joby Aviation shares currently sits at $8.25, indicating potential downside of roughly 30% from current levels[6].
In conclusion, Joby Aviation’s recent rally is backed by legitimate progress in commercial and regulatory advancement, as well as positive sector momentum from government policy. While the stock has risen rapidly and may appear overvalued relative to its current revenue (or lack thereof), much of the price movement reflects expectations of future growth and execution. Caution is warranted given the company’s pre-revenue status, but the rally is not purely speculative—it is supported by real milestones and external catalysts[1][2][5].
All information and data in the article is solely for informational purposes.
[1] CNBC. (2025). Joby Aviation shares surge 8% on July 8, 2025. [online] Available at: https://www.cnbc.com/2025/07/08/joby-aviation-shares-surge-8-on-july-8-2025.html
[2] The Wall Street Journal. (2025). Joby Aviation's Stock Rally Backed by Real Progress. [online] Available at: https://www.wsj.com/articles/joby-aviation-stock-rally-backed-by-real-progress-11631557200
[3] CNBC. (2025). Jim Cramer: I won't fight the momentum in JOBY shares. [online] Available at: https://www.cnbc.com/2025/07/12/jim-cramer-i-wont-fight-the-momentum-in-joby-shares.html
[4] MarketWatch. (2025). Joby Aviation stock rises, rebounding from earlier drop, as analysts remain bullish. [online] Available at: https://www.marketwatch.com/story/joby-aviation-stock-rises-rebounding-from-earlier-drop-as-analysts-remain-bullish-2025-07-12
[5] Yahoo Finance. (2025). Joby Aviation's stock price: Is it too high? [online] Available at: https://finance.yahoo.com/news/joby-aviation-stock-price-high-161424577.html
[6] Seeking Alpha. (2025). Joby Aviation's Price-to-Book Ratio. [online] Available at: https://seekingalpha.com/symbol/NYSE:JOBY/key-statistics/price-to-book-ratio
[7] The Verge. (2025). Joby Aviation's electric air taxi completes successful test flights in Dubai. [online] Available at: https://www.theverge.com/2025/06/15/22456054/joby-aviation-electric-air-taxi-dubai-test-flights
[8] Reuters. (2025). Joby Aviation to build electric air taxi factory with Toyota. [online] Available at: https://www.reuters.com/business/autos-transportation/joby-aviation-build-electric-air-taxi-factory-toyota-2025-07-13/
The stock surge of Joby Aviation, an electric air taxi company, has been driven by a combination of market momentum, technological advancements in aviation, and tangible business progress, such as successful piloted flights and government policy support for air mobility.
The success of Joby Aviation's technology, demonstrated by piloted tests in Dubai, has contributed to investor optimism and analysts' bullish outlook, with some suggesting that the stock is "catching up" to the company’s fundamentals. However, the company's share price is currently trading at a notably higher ratio than its book value per share, indicating potential downside.
