Joby Aviation is trading 4.2% down now at $8.44 after announcing a $500 million acquisition of Strix Holdings and establishing a program to sell up to $750 million of common stock.
- The acquisition expands Joby’s defense-related ambitions.
- The ATM program raises dilution concerns and may pressure shares.
- Reuters separately reported that investors reacted negatively to the similarly structured defense acquisition and stock issuance.