Key facts
- Joby Aviation director Paul Sciarra sold 250,000 shares.
- The shares sold were valued at $5 million.
- Joby Aviation acquired a 47,500 sq. ft. facility near Hollister Municipal Airport.
- The new facility will accelerate the company's flight testing program.
- The company is in the final phase of FAA Type Certification for its electric air taxi.
Joby Aviation director Paul Sciarra sold $5 million worth of shares, comprising 250,000 units of the electric aircraft maker. This insider selling activity can sometimes signal a director's confidence level, though it may also be for personal financial reasons. Concurrently, Joby Aviation announced the acquisition of a 47,500 sq. ft. facility near Hollister Municipal Airport. This expansion is intended to accelerate their flight testing program as they progress through the final stages of FAA Type Certification for their electric air taxi.