Joby Aviation Inc ( JOBY ) shares are trading higher Tuesday after the company announced a new agreement to explore distribution and service partnerships in Saudi Arabia with Abdul Latif Jameel.

What Happened: Electric vertical take-off and landing (eVTOL) air taxi company Joby Aviation ( JOBY ) signed a Memorandum of Understanding (MoU) with Abdul Latif Jameel to explore a potential distribution agreement for its electric aircraft in Saudi Arabia.

The deal could lead to the delivery of up to 200 aircraft and related services valued at approximately $1 billion over the coming years. The companies noted that they also see potential long-term revenue opportunities across the Middle East.

"This collaboration is about bringing America’s leadership in electric air mobility to the world," said JoeBen Bevirt, founder and CEO of Joby Aviation ( JOBY ).

“Together with Abdul Latif Jameel, we’re not just imagining a cleaner, safer, more efficient future—we’re building it. And there is no better partner to help unlock the extraordinary opportunity for air travel in the region.”

The collaboration is focused on enabling local air taxi services and building support infrastructure, including pilot training and MRO (Maintenance, Repair, and Overhaul) facilities. Joby and Abdul Latif Jameel will also work together to explore distribution and sales collaborations.

How To Buy JOBY Stock

By now you're likely curious about how to participate in the market for Joby Aviation ( JOBY ) – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.

In the case of Joby Aviation ( JOBY ), which is trading at $8.35 as of publishing time, $100 would buy you 11.98 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

JOBY Price Action: Joby Aviation shares were up 8.6% at $8.13 at the time of publication Tuesday, according to Benzinga Pro. The stock is now up over 60% over a one-year period and has seen heightened volume following news of its Middle East expansion efforts. Tuesday’s trading volume had already exceeded the company’s average session volume of approximately 13.8 million over the last 100 days at the time of publication.

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