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Should You Buy Joby Aviation While It's Under $15?
Key Points
Shares of the eVTOL aircraft maker soared about 70% this year.
The start-up business is pre-revenue and lacks FAA type certification.
The stock will be volatile, but investors can consider a long-term position.
Joby Aviation (NYSE: JOBY) is a frontrunner in the new market of electric vertical takeoff and landing (eVTOL) aircraft, sometimes referred to as "air taxis."
Joby stock has enjoyed a strong 2025, up roughly 70% year to date, yet has now cooled off and is trading below $15. That pullback might put Joby back in the buy zone for some investors, but it also raises the question: Is this a stock that investors really want to own in 2026?
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Let's take a quick look.
The biggest risks investors should watch for
The most obvious risk is that Joby Aviation is still in the pre-commercial phase. Like other eVTOL companies, including its rival Archer Aviation, Joby does not have FAA type certification. As a result, it can't scale its operations commercially, and thus lacks meaningful revenue.
Image source: Joby Aviation.
Joby's balance sheet is strong, but cash burn is real. Joby had about $978 million in cash and equivalents at the end of last quarter, and it got another $576 million in October through an underwritten equity offering. Still, the company has reported a net loss of about $808 million over its last three quarters.
The company has also been progressing through certification work, and it's now in the final stages of FAA type certification. Still, with a market capitalization of roughly $13 billion at today's price, a lot of good news may already be baked in.
At $15 a share, Joby isn't for the faint-hearted. The stock will likely stay volatile as it works its way to commercialization. Aggressive investors with a horizon of five years or more may consider starting a small position. More conservative investors may want to look elsewhere for their next growth stock.
Steven Porrello has positions in Joby Aviation. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.