24/7 Market News Snapshot 10 October, 2024 – Jet.AI Inc. Common Stock (NASDAQ:JTAI)

October 10, 2024

DENVER, Colo., 10 October, 2024 (247marketnews.com) – (NASDAQ:JTAI) are discussed in this article.
Jet.AI Inc. (JTAI), a leader in private aviation and artificial intelligence, has seen its stock open at $0.138 before experiencing a notable decline to $0.093, reflecting a decrease of approximately 0.11%. This stable price mirrors its previous close, indicating the stock has remained consistent despite market fluctuations. With an impressive trading volume of 743.40 million shares, interest among investors remains high, though the price movement signals a bearish trend. As traders monitor the situation closely, support around the current price may offer a crucial point for a possible reversal.

In a strategic effort to enhance its financial position, Jet.AI recently announced a significant capital raise agreement with select institutional investors. The company intends to issue around 26.6 million shares of common stock at a price of $0.09 per share, with anticipated gross proceeds of approximately $2.4 million. This registered direct offering is expected to close on or around October 11, 2024, subject to standard closing conditions. Maxim Group LLC is serving as the exclusive placement agent for this endeavor.

Jet.AI’s operations are divided into two core segments: Software and Aviation. The company is at the forefront of technological advancements like the CharterGPT app and Jet.AI Operator platform, which utilize cutting-edge natural language processing and machine learning techniques to improve private jet booking and offer greater operational efficiency for charter providers. Additionally, Jet.AI provides a wide range of aviation services including jet aircraft fractions and management solutions, solidifying its status in the industry alongside prestigious partners, such as its collaboration with the 2023 NHL Stanley Cup® champions. This capital raise marks a vital step in Jet.AI’s journey to redefine private aviation and enhance customer experiences.

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