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Wheels Up (NYSE: UP ) stock briefly rose about 8% in premarket trading before sinking over 20% today after the market opened. Earlier this morning, the aviation start-up announced that it would explore strategic options.
Wheels Up Experience said on Wednesday there was "substantial doubt" about its ability to continue operations, even as it received short-term funding from Delta Air Lines.
NEW YORK , June 5, 2023 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP), the leading brand in private aviation, today announced that Todd Smith, CFO and Interim CEO, will present at the Jefferies Virtual Business Aviation Summit on Tuesday, June 13, 2023 at 10 am ET. The event will be webcast live and can be accessed via the Events & Presentations page of our Investor Relations website.
Wheels Up is not the only private aircraft charter company that has had consecutive losses over the years, as revelations of VistaJet Global finances emerge.
Like many private jet startups, Wheels Up was dogged by high costs and operating issues.
Wheels Up Experience Inc. (UP) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.
The most oversold stocks in the industrials sector presents an opportunity to buy into undervalued companies.
Wheels Up Experience Inc. (UP) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.
Wheels Up Experience Inc. (UP) delivered earnings and revenue surprises of -175.86% and 2.67%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?
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