UP - Why Wheels Up Stock Is Going Up Today
Shares of Wheels Up Experience (NYSE: UP) gained more than 10% on Friday after a Wall Street analyst initiated coverage of the stock with an outperform rating. These sorts of jumps haven't held for Wheels Up in the past, but investors are excited about the private aviation service today.
Wheels Up has had a turbulent start to life as a public company. The small jet-transportation provider went public earlier this year via a merger with a special purpose acquisition company ( SPAC ). The stock has lost more than one-third of its value in the months since, however, as investors weigh the potential of the opportunity against current operating losses.
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Why Wheels Up Stock Is Going Up Today