Toyota Director purchases 49.70M shares of Joby Aviation for $250.0M, raising stake to 122.57M shares (+68.2%)
Toyota Motor Corp's director acquired 49,701,790 shares at $5.03 on 2025-05-22, increasing total holdings by 68.2% from 72,871,831 shares to 122,573,621 shares. The $250.0M investment represents a substantial commitment in Joby, an unprofitable eVTOL company with negative net income of $-82,406,000 across the most recent full fiscal year and annual revenue growth of -86.8%. The transaction occurred at $5.03 per share while the stock now trades at $6.88 (30-day momentum of +5.8%), suggesting the purchase price was not at distressed levels. This large-scale increase in Toyota's ownership stake signals material confidence in the strategic partnership, though Joby's current financial trajectory—negative earnings and severe revenue decline—represents a substantial execution risk independent of the insider's conviction.