Shares of Joby Aviation Inc. JOBY fell more than 13% on Thursday, on pace for their largest one-day percentage drop since June 6, 2022, and lowest in a week. Joby shares touched multiyear highs last week when the company, which makes electric air taxis, got one step closer to commercial passenger flights, securing approval from U.S. regulators for test flights of its first electric vertical takeoff and landing, or eVTOL, aircraft. Joby shares have nearly tripled so far this year, compared with gains of about 15% for the S&P 500 index. SPX
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