Archer, Joby Slide As eVTOL Enthusiasm Wanes
Both stocks had recently reached new highs amid widespread optimism for eVTOL commercialization, but sentiment has shifted as traders begin locking in gains and reassessing emerging headwinds.
Joby, a sector bellwether, surged in July on news of factory expansion, advancements in FAA certification, and piloted flights in Dubai. This momentum pushed the stock to a 52‑week high before a pullback. On Monday, shares are down over 3%, as investors pause to reassess near-term risks.
Also Read: Joby Aviation Stock Soars 169% In 3 Months: What's Driving The Surge?
That sentiment shift is also weighing on Archer, which was also down Monday. It extended a volatile stretch triggered by a Delaware Chancery Court decision to allow a shareholder lawsuit tied to its 2021 SPAC merger to proceed.
Investors are also parsing uncertainty surrounding its partnership with Stellantis. While the automaker remains a manufacturing backer, its recent exit from an unrelated hydrogen fuel project stirred speculation over its long-term commitment to Archer's production plans.
Despite Monday's drop, both Archer and Joby remain up year-to-date. Archer continues advancing FAA certification for its Midnight aircraft with backing from Stellantis and United Airlines. Joby is progressing toward a 2026 Dubai launch and expanding U.S. testing. FAA support for eVTOL integration remains a key long-term catalyst.
ACHR & JOBY Price Action
ACHR is down 2.10% to $10.98, pulling back from its July high near $13.90.
JOBY is trading 3.59% lower at $17.45, after topping $18.50 earlier this month.
While both stocks remain well above their 52-week lows, they face renewed pressure as investors rotate out of speculative growth plays amid valuation and execution concerns.
Read Next:Photo by T. Schneider via Shutterstock
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This article Archer, Joby Slide As eVTOL Enthusiasm Wanes originally appeared on Benzinga.com
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