Shares of Blade Air Mobility (NASDAQ:BLDE) soared by up to 27% during Monday’s premarket session after reports surfaced that Joby Aviation (NYSE:JOBY) is looking into acquiring the helicopter ride-sharing service. Meanwhile, Joby Aviation’s own shares gained as much as 3.1% in early trading, according to sources close to the situation.
JPMorgan analyst Bill Peterson commented, “a potential acquisition could be net-positive for both parties given the strategic alignment.” He added, “it is unclear if Joby would invest in the Medical business or sell off the asset if Joby is interested in acquiring Blade as a whole entity.”
Blade Air Mobility is set to release its earnings report later this week. Before Monday’s premarket rally, Blade shares had declined by 11% year-to-date.
Blade Air Mobility stock price
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