UP - Why Shares of Wheels Up Experience Are Flying High Today
Private aviation membership service Wheels Up Experience (NYSE: UP) reported a larger-than-expected quarterly loss, but also provided evidence the business is progressing in the right direction. Investors liked what they heard, sending shares of Wheels Up as much as 15% higher in Friday trading.
Wheels Up is a new twist on the fractional jet ownership business, providing private plane transportation to members. Wheels Up went public in 2021 via a special purpose acquisition company ( SPAC ), and in the time since has been working to establish and grow its business.
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Why Shares of Wheels Up Experience Are Flying High Today