The slide in the Priority Aviation (OTCMKTS:PJET) stock continued yesterday as it decline by another 4% and took its losses for the past week to as much as 25%. In this regard, it is important for investors to determine if the slide in the stock could in fact be a fresh opportunity or not.
Trading Data
On Wednesday, PJET stock rose 3.89% at $0.0094 with more than 16.68 million shares, compared to its average volume of 33.74 million shares. The stock has moved within a range of $0.0085 – 0.0102 after opening the trade at $0.0092.
PJET Expands Short-Term Rental Market With SHBO App For College Students
As it happens, the company was in the news cycle on Wednesday after it made an announcement with regards to the launch of its Student Housing By Owner app. Priority Aviation noted that it was on course to launch the app at some point in December 2021.
The situation with student housing in the United States is quite well known. In essence it is short in supply and at this point in time, only 22% of the total students live on the campus.
Hence, Priority Aviation believes that its Student Housing solution could eventually prove to be highly popular with students who might be in need to student housing outside the campus. The app is being touted as the Airbnb of student housing and it should be noted that it is a massive market. The spending power of the 21 million college students in the country is pegged at around $376 billion at this point.
Traders Corner
PJET stock is trading below the 20-Day and 50-Day Moving averages of $0.0146 and $0.0149 respectively. However, the stock is trading above 200-Day moving average of $0.0075. The stock is down 52% in the past month.
