Joby Aviation's stock has jumped 125% in the past quarter, fueled by its first piloted eVTOL flight between US airports and ongoing FAA certification efforts. Despite ongoing financial losses, investor optimism and anticipation of future Fed moves have added to the momentum. Over the past year, Joby's 222.91% shareholder return has far outpaced the airlines industry’s 70.8% and the broader market’s 17.1%. The stock now trades well above analyst price targets, suggesting high expectations despite its current unprofitability and forecasted losses. Are investors getting ahead of themselves, or is this the start of real change in the sector?