While Joby's stock has badly underperformed the S&P 500 in 2024 (see graph below), the long-term potential remains substantial. Joby Aviation's strong partnerships, global expansion efforts, and certification progress position it as a leading contender in the eVTOL space.

Humana stock sinks on Medicare Advantage troubles, Nike withdraws fiscal 2025 guidance as it changes chief executives, and Tesla reports third-quarter deliveries that came in slightly higher than estimates.

Toyota, an existing Joby partner, apparently likes the progress Joby is making. The automaker has agreed to invest an additional $500 million through the purchase of two equal tranches of Joby stock, with the first expected to close later this year and the second in 2025.

Key Takeaways Major U.S. indexes were little changed at midday Wednesday, as investors watch developments in the Middle East and the U.S. port strike. Nike shares fell Wednesday, a day after the company declined to offer a full-year outlook alongside its fiscal first-quarter results.