Joby Aviation, Inc. (NYSE:JOBY) shares edged higher Friday after the company filed a prospectus supplement covering up to 2.42 million shares for potential resale by Strata Critical Inc.

Investors are also evaluating Joby’s autonomous cross-country flight tour. The stock reached a new 52-week low of $6.25 on Thursday.

Resale Shares Stem From Blade Acquisition

Joby will not receive proceeds from any resale, as it is not selling shares under the prospectus. Strata Critical may sell the shares through public or private transactions.

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Joby issued 2,419,801 shares to Strata Critical on Sept. 8 after the acquired Blade Air Mobility operations met specific EBITDA milestones.

These shares represent approximately 0.24% of Joby’s 996.3 million shares outstanding. The filing does not obligate Strata Critical to sell any or all of the shares.

Joby Expands Autonomous Flight Demonstrations

Separately, Joby’s autonomous J208 aircraft, a converted Cessna Caravan, has begun a month-long, 10-state coast-to-coast tour.

The aircraft was displayed Thursday in Fort Worth at the launch of the White House-supported eVTOL and Advanced Air Mobility Integration Pilot Program, hosted by U.S. Transportation Secretary Sean Duffy.

Joby is also conducting passenger-style route demonstrations in Dallas-Fort Worth and has leased a 45,000-square-foot facility at Fort Worth Alliance Airport.

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Cramer Remains Cautious On Joby

Jim Cramer recently reiterated his bearish stance on Joby, citing ongoing losses and calling the stock "an interesting spec" he would not invest in.

JOBY Technical Setup: Bearish Trend Near 52-Week Low

JOBY remains under pressure near its 52-week low of $6.25, having declined 53.87% over the past 12 months.

Shares trade 11% below the 20-day SMA, 15.3% below the 50-day SMA, and 37.5% below the 200-day SMA.

The trend remains bearish, with the 20-day SMA below the 50-day SMA and the 50-day SMA below the 200-day SMA. MACD also remains below its signal line, indicating weak momentum.

  • Key Resistance: $7.19 — the 20-day SMA.
  • Key Support: $6.25 — Thursday’s 52-week low.

JOBY Price Action: Joby Aviation shares were up 0.95% at $6.37 at the time of publication on Friday. The stock is trading near its 52-week low of $6.25, according to Benzinga Pro data.

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