Joby Aviation Inc (NYSE:JOBY) stock is 13.3% lower to trade at $5.24 after the electric air taxi company priced an underwritten public offering of 40 million shares at $5.05 per share. JOBY is pacing for its worst single-session percentage drop since July 2023, and is now down 22% in 2024, though there's support from the $5.10 level in place.

Electric vertical takeoff and landing vehicle startup Joby Aviation has launched a public offering to sell up to $200 million of its shares of common

Joby has shared the pricing of its unwritten public offering of common stock shares. The eVTOL maker is expecting gross proceeds to exceed $200 million.