Priority Aviation Inc. (OTCMKTS:PJET) was down 14% last week. Recently the company announced that it would unveil its Student Housing by Owner App in December.
Trading Data
On Friday, PJET stock ended flat at $0.0090 with more than 13.91 million shares, compared to its average volume of 31.32 million shares. The stock has moved within a range of $0.0088 – 0.0096 after opening trade at $0.0090.
PJET Expands Short-Term Rental Market With SHBO App For College Students
The company anticipates the SHBO app to be received well by the struggling student housing market, considering the market faces supply shortages with only 22% of students housed in campus premises. Besides the SHBO App being a form of Airbnb for student housing, it will also maximize on advertising to university students. Notably, the App incorporates an AI engine that will optimize the value of the app for businesses targeting university students.
The student housing market is huge, with around 4,000 universities in the US and 25,000 globally. However, only a handful of big investment companies dominate new student housing projects, and the firms are investing around $16 billion annually into the construction of new housing for students. Priority Aviation started developing the app early this year to allow the listing of houses new institutions. Therefore, in the coming days, investors should watch PJET.
Technical Data
PJET stock is trading below the 20-Day and 50-Day Moving averages of $0.0120 and $0.0150 respectively. However, the stock is trading above 200-Day moving average of $0.0078. The stock is down 56% in the past month.
