Joby Aviation (JOBY) traded lower Monday, March 30, 2026, as the market focused on a lock-up expiration that investors have been monitoring as a potential catalyst for increased selling. When lock-ups expire, previously restricted shareholders can sell, increasing perceived near-term supply and often pressuring the stock even without new company-specific headlines.

JOBY has already faced heightened sensitivity to dilution and share supply after its recent capital-raise activity, which included a large common-stock issuance alongside convertible notes earlier in 2026. With a fresh tranche of shares potentially becoming available via the lock-up, traders are pricing in the risk that selling could outpace near-term demand, especially in a risk-off tape for high-volatility growth names.

Investors will be watching for signs of actual distribution (volume spikes, repeated intraday sell programs) and for any related SEC ownership disclosures over the coming days and weeks. If selling proves limited, the overhang can clear quickly; if selling accelerates, JOBY could remain under pressure until the market absorbs the incremental float.