Joby Stock Shows Death Cross, But Pentagon Hypersonic Deal Changes Narrative

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Joby Aviation Inc. (NYSE:JOBY) shares have entered a long-term downtrend, with the stock flashing a Death Cross technical indicator. However, the company has emerged as one of five selected for a $68 million Pentagon hypersonic technology development program, which could expand its defense exposure beyond commercial air mobility.

Why it matters

Joby's stock price decline reflects broader market pressures, but the new Pentagon contract represents a potential opportunity to diversify the company's revenue streams and capitalize on emerging defense technologies like hypersonic systems. This could help offset the stock's technical weakness and long-term downward momentum.

The details

Joby's stock is trading near $9.99, down about 30% year-to-date and roughly 52% below its 52-week high of $20.95. The recent technical breakdown has pushed the company's 50-day moving average below the 200-day moving average, confirming a Death Cross. Despite this, Joby has been selected for the Pentagon's $68 million hypersonic technology development program, which supports next-generation systems capable of speeds above Mach 5. The company has also partnered with L3Harris Technologies to explore defense applications for its autonomous aircraft platform.

• Joby's stock is trading near $9.99 as of February 19, 2026.
• Joby's stock is down about 30% year-to-date and 52% below its 52-week high of $20.95.

What’s next

The company's new Pentagon contract could help offset the stock's technical weakness and long-term downward momentum, as Joby looks to expand its defense exposure and capitalize on emerging hypersonic technologies.