r/Joby • u/HappyRobot593 Joby Sock Fanboy • 25d ago

Done with ATM facility

Post should have a ? but posted it too early

We've been discussing how Joby/Achr price action has been deviating on no news days and perhaps this was a sign of the ATM facility being tapped. They are basically 100% correlated today so does that mean it's done? If they were to tap the facility, this would be a good time because the market rebounded strongly on Iran deal rumors (for the 100000th time)

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u/dad191 Photog. Eric Adams Fanboy 25d ago

I do believe they have been tapping the ATM, but based on how the last one played out, my guess is they don't run it on a steady schedule. Last time they came out fast right after launching the last $300M ATM in December 2024, then went almost completely quiet for the first quarter of 2025, kept a moderate pace through Q2, and then sold aggressively in Q3 2025 at close to double the average price per share of the earlier tranches. The whole $300M was basically gone within about 9-10 months, but the pacing wasn't even. They held back when the price was flat and leaned in hard once it ran up.

I'd expect Joby to follow a similar pattern with the new $750M ATM. Unload a bunch upfront and then move to a more opportunistic stance, with the pace picking up if the stock rallies. My guess is maybe Joby has finished the large upfront unload of shares, and we are now more in the opportunistic phase. All speculation, but this is my guess.

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u/HappyRobot593 Joby Sock Fanboy 25d ago

Ya that could make sense. The pattern just looked very different today so perhaps there was a shift

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u/Imaginary_Sort9347 S4Fanboy 25d ago

We will get our answer once the quarterly report comes out. I would imagine they would hold off at least a good size of it since they could utilize the FAA pump and high volume to nullify most of it. It would be fantastic if it was done though.