Shares of recently debuted Jet.AI Inc. more than doubled after the aviation-booking platform announced its AI-based booking app was available on Apple Inc.’s App Store, with those gains paring to close Friday up more than 60%.
More than 5.3 million shares exchanged hands on the session, compared with a 10-day average daily volume of around 356,000 shares, according to FactSet data. “Customers now have the power and convenience of an impressive, real-world application of transformative AI technology that is efficient, knowledgeable and fun to use,” Mike Winston, Jet.AI’s founder and chair, said in a statement. “We’re at the vanguard of bringing AI to the aviation industry. Private aviation is a great place to start where we can control more, understand more, establish credibility and scalability before we expand to broader applications in aviation.