This post was originally published on this site
However, closing yesterday’s trading session at $7.74, UP’s stock is trading 48.4% below its 52-week price high of $15. In addition, the stock has lost 4.5% in price over the past month and 23.6% year-to-date, indicating bearishness. Indeed, UP is currently trading lower than its 50-day and 200-day moving averages of $8.74 and $9.83, respectively, which indicates a downtrend.
Although pandemic-related anxieties have fostered a growing consumer preference for flying by private aircraft, the pricing may be a deterrent for many. Moreover, since UP is still a small company in the competitive aviation industry, the stock could experience more dramatic price swings in the near term.
