Why Joby Aviation Soared 29.5% Last Month But Is Plummeting in June

Joby Aviation stock surged 29.5% in May following better-than-expected Q1 earnings and confirmation of commercial flight plans, but has fallen 19.8% in June as investors shift to risk-off positioning due to stronger-than-expected job growth data raising Fed rate hike concerns. The company's highly growth-dependent valuation makes it vulnerable to interest rate increases.