Why Vertical Aerospace Stock Lifted Off Today
Shares of Vertical Aerospace (NYSE: EVTL) took flight on Thursday, gaining up to 38% on strong volume. There was no news to explain the jump, but the stock appeared to get caught in an updraft on a strong market day in which investors poured money back into riskier investments.
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Vertical Aerospace is a British company developing an electronic aircraft capable of vertical takeoffs and landings. The company has big backers, boasting a total of 1,350 conditional preorders from the likes of American Airlines Group (NASDAQ: AAL) and others, and went public back in December via a merger with special purpose acquisition company (SPAC) Broadstone Acquisition Corp.
Source Fool.com
