Why Did JOBY Stock Surge Today? Uber Air Launches in Dubai

Shares of Joby Aviation, Inc. (NYSE: JOBY) surged in premarket trading on Wednesday, February 25, 2026, after the company and Uber Technologies (NYSE: UBER) jointly announced the launch of “Uber Air powered by Joby” – a fully integrated air taxi booking service now live in Dubai.

The announcement marks a pivotal commercial milestone for Joby, which has spent years developing its all-electric vertical takeoff and landing (eVTOL) aircraft and navigating a rigorous FAA certification process. The news comes on the same day as Joby’s Q4 2025 earnings call, adding further market attention to the stock. Investors responded swiftly, pushing JOBY shares up over 6% in premarket trading as the partnership signals that the era of urban air mobility is no longer a distant promise.

Uber Air Powered by Joby: What You Need to Know

The newly launched service allows Uber users in Dubai to book a Joby all-electric air taxi directly within the Uber app by simply entering their destination. If a trip qualifies, “Uber Air powered by Joby” appears as a ride option, with the app handling every leg of the journey seamlessly – including Uber Black ground pickup and drop-off at both ends.

Joby expects to begin carrying its first fare-paying passengers in Dubai later in 2026, representing the company’s first real-world commercial operation. The aircraft itself seats up to four passengers, is piloted by a certified commercial pilot, and features large panoramic windows for city views from above.

Technically, the aircraft uses six tilting propellers to take off vertically before transitioning into conventional forward flight, reaching speeds of up to 200 mph with a range of up to 100 miles on a single charge. The vehicle has also been engineered with an acoustic profile quiet enough to blend into city ambient noise, a key factor for urban integration and regulatory acceptance.

The Joby-Uber partnership dates back to 2019, and deepened significantly when Joby acquired Uber’s Elevate division in 2021. More recently, the companies announced plans to bring Blade’s commercial helicopter service onto the Uber platform in 2026, following Joby’s acquisition of Blade’s passenger business, with expansion targets including New York, Los Angeles, the United Kingdom, and Japan.

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JOBY Stock Brief: Premarket Surge and Key Metrics

JOBY closed at $9.72 on February 24, 2026, up 1.89% on the day, before jumping an additional 6.06% in premarket trading to $10.31 as of 8:52 AM EST on February 25, reflecting the market’s enthusiastic reception of the Uber Air announcement.

The stock’s 52-week range stretches from $4.96 to $20.95, illustrating the high volatility characteristic of early-stage aviation and technology companies, with a beta of 2.59 confirming this sensitivity to market sentiment.

Despite the premarket excitement, JOBY remains down 26.36% year-to-date as of February 24, a sharp contrast to its strong one-year return of 43.79%, which comfortably outpaced the S&P 500’s 15.16% gain over the same period.

On the financial side, Joby remains pre-revenue at scale, with trailing twelve-month revenue of just $22.64 million against a net loss of $1.05 billion, and analysts expect a Q4 2025 loss of $0.22 per share alongside approximately $16.9 million in revenue. The company holds roughly $978 million in cash, providing a meaningful runway as it pushes toward FAA certification and commercial U.S. operations.

Analyst price targets range widely from $6 to $22, with an average target of $12.63, well above the current trading price, though Goldman Sachs initiated coverage in December 2025 with a Sell rating and a $10 price target, underscoring the divided sentiment around the stock’s near-term valuation.

Disclaimer: The author does not hold or have a position in any securities discussed in the article. All stock prices were quoted at the time of writing.