Jet.AI Stock Rockets After Cessna Fleet Order From Textron, Retail Takes Notice
By Stocktwits Inc | First Published Nov 22, 2024, 8:35 PM ISTThe stock’s surge follows another positive milestone earlier this week, when Jet.AI regained compliance with Nasdaq’s minimum stockholders’ equity requirement.
Shares of Jet.AI ($JTAI) skyrocketed over 25% early Friday, following the announcement of a fleet purchase agreement with Textron Aviation ($TXT).
The deal involves three Cessna Citation CJ4 Gen2 aircraft, with deliveries set for the second half of 2026.
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These aircraft will be integrated into Jet.AI’s new CJ4 Gen2 fractional jet ownership program, aimed at individuals and businesses seeking flexible private aviation solutions.
Jet.AI Chairman Mike Winston highlighted the significance of the CJ4, calling it an “excellent upgrade option” for light jet customers and praising its 14-year legacy of reliability and continuous improvement.
Retail sentiment on Stocktwits turned sharply ‘bullish’, with message volume spiking and JTAI becoming the platform’s second-most trending symbol at market open.
With a short interest of 10.86 million shares, representing 55.10% of the float as of late October, JTAI is also being eyed as a potential meme stock by retail traders.
The stock’s surge follows another positive milestone earlier this week, when Jet.AI regained compliance with Nasdaq’s minimum stockholders’ equity requirement.
Jet.AI provides private jet booking services through its AI platform, catering to a wide range of clients with aircraft options like Textron’s Citation Mustang, Honda Motor Co.’s HondaJet, and Bombardier Inc.’s Challenger 850.
Despite Friday’s rally, $JTAI has faced steep challenges since going public via a SPAC merger in August 2023.
The stock has lost over 99% of its value since then and is down 97% year-to-date in 2024.
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