Joby Aviation Confirms Death Cross, Lands $68M Pentagon Deal and $1B Toyota Backing
Joby Aviation’s 50-day average fell to $13.28 below its 200-day at $13.42, confirming a Death Cross and reflecting a roughly 30% year-to-date drop with shares 25% below key trend levels. The company also won a slot in the Pentagon’s $68 million hypersonic program and secured Toyota’s $1 billion support.
1. Technical Downtrend and Death Cross
Joby Aviation’s 50-day moving average dropped to $13.28, dipping below the 200-day at $13.42 and confirming a Death Cross signal. The stock has tumbled roughly 30% year-to-date, trading about 25% under its 50-day and 26% under its 200-day averages, with a Relative Strength Index near 33 and over 32% decline in the past month.
2. Pentagon Hypersonic Program Selection
Joby was chosen as one of five companies in the Pentagon’s $68 million hypersonic technology development program for next-generation Mach 5+ systems. The company also partnered with L3Harris to explore defense applications for its autonomous aircraft platform, expanding its footprint in U.S. aerospace and defense.
3. Toyota Partnership and Manufacturing Expansion
Toyota is safeguarding its $1 billion investment by deploying about 200 employees to troubleshoot production glitches, implement Toyota Production System practices and supply critical parts. Joby is acquiring a 700,000-square-foot Dayton, Ohio facility to ramp capacity to four aircraft per month by 2027, backed by a recent $1.29 billion equity and debt raise.