Joby Aviation shares were up 6.5% at $9.06 in overnight trading. The rise follows Joby's announcement that it had completed the first point-to-point air taxi demonstration in New York City. The flight was the first in a week-long series of test flights.
Joby's aircraft left JFK Airport and landed at multiple sites across the city's existing heliport network, including Downtown Skyport and the West 30th Street and East 34th Street heliports in Midtown, according to the news release.
The flights are part of the electric vertical takeoff and landing, or eVTOL, Integration Pilot Program, or eIPP, launched by the Transportation Department in 2025 to accelerate the development and adoption of air taxis.
POET Technologies dropped another 10.7% in overnight trading, extending losses from the regular session.
The sharp decline followed the company's announcement that Marvell Technology has canceled all purchase orders previously received from Celestial AI, which Marvell recently acquired. Marvell cited POET's breach of confidentiality obligations by disclosing information related to the purchase orders and shipping details as the reason for the cancellation.
The order cancellation represents a significant setback for POET, which had previously highlighted these orders as part of its growth in the AI and optical networking markets. The company noted it remains focused on other strategic priorities and continues to fulfill orders for other customers, including a recently disclosed $5 million purchase order with another technology company.
Critical Metals experienced a 4.78% decline in overnight trading, as the stock gave back some of its recent gains.
The plunge appears to be driven by ongoing investor concerns regarding dilution from the company's recent private placement. CRML previously announced a PIPE financing deal, issuing approximately 6 million shares at $10.00 per share to raise $60 million. The significant discount to the market price at the time sparked fears of equity dilution, which had previously triggered sharp sell-offs.
Additionally, the stock may be facing profit-taking pressure following a substantial rally earlier in the session. That rally was fueled by the company's announcement that it signed a letter of intent to acquire all outstanding shares of European Lithium in an all-stock deal valued at approximately $835 million. The acquisition would give CRML full ownership of the Tanbreez rare earth project in Greenland.