Joby Aviation shares are retreating from recent levels. Why are JOBY shares down?
What Is Driving Joby Aviation’s Partnership with Toyota?The latest buzz centers on Joby and Toyota Motor formalizing a mass-manufacturing alliance via a new joint venture, Joby Toyota Aero Manufacturing Preparation Company, aimed at scaling commercial production of Joby’s electric air taxi. Toyota holds 51% after purchasing 1.02 million shares for $1.02 million, while Joby holds 49% after acquiring 980,000 shares for $980,000, building on Toyota’s $500 million investment in late 2024.Short positioning is also part of the setup: short interest recently rose to 100.74 million shares from 88.95 million, or about 15.36% of publicly available shares sold short. At roughly 30.62 million shares of average daily volume, that’s about 3.29 days to cover—fuel for sharp squeezes on good news, but also a sign traders are leaning against the story.Critical Levels to Watch for JOBY StockFrom a longer-term trend view, JOBY is still in repair mode: at $8.06 it’s trading 11.6% below its 20-day SMA ($9.15) and 33.9% below its 200-day SMA ($12.23), which keeps the bigger-picture bias tilted lower. The moving-average stack is also bearish, with the 20-day SMA below the 50-day SMA and the death cross that triggered in February (50-day SMA below the 200-day SMA) still acting as an overhang for trend followers.For momentum, MACD is the cleaner read right now: it’s below its signal line with a negative histogram, which points to upside pressure fading unless buyers can reclaim that baseline. In plain English, MACD versus its signal line helps gauge whether momentum is strengthening or weakening, and this setup says the recent push is losing steam.
