Joby Aviation (JOBY) has spent the past months proving technical progress while wrestling with capital needs. The eVTOL maker recently priced a roughly $1.2 billion package of common stock and convertible notes to fund certification and production ramp plans, a move that sparked a sharp selloff.
That pullback presented a buying window for ARK Invest. Cathie Wood’s ARKQ (ARKQ) and ARKX (ARKK) funds picked up about 780,000 Joby shares on Jan. 29, a purchase worth roughly $8.7 to $10.4 million, as the firm doubled down on autonomous and urban-air themes.
