Joby Aviation Inc (JOBY)

Joby Aviation, Inc. (JOBY) shares fell 15.81% to $8.47 in pre-market trading as JP Morgan downgraded the previous rating from Neutral to Underweight. Additionally, investors are worried that a new government plan has led to some confusion about when certification of their "flying taxis" might happen.

https://www.benzinga.com/news/23/07/33289994/why-amarin-shares-are-trading-lower-by-23-here-are-other-stocks-moving-in-wednesdays-mid-day-session

JOBY's stock fell 13.38% after they announced that they have submitted all of its Certification Plans to the Federal Aviation Administration ("FAA"), marking further progress toward completing the third of five stages required to certify its aircraft for commercial use. But there has been some concern over Joby’s impressive run-up. Deutsche Bank, for example, notes that Joby Aircraft shares have exploded up 70% in just the last week, compared to Nasdaq’s overall 3%.Moreover, analysts are somewhat split on Joby Aviation stock and it also comes with downside risk.

https://www.tipranks.com/news/joby-aviation-nosedives-after-advancing-faa-certification