Why Wheels Up Shares Are Sliding Today
Portfolio Pulse from Lekha Gupta
Wheels Up Experience Inc (NYSE:UP) shares are down 6% after the company issued a statement addressing bankruptcy rumors and announcing redesigned programs to drive profitability. Wheels Up is working with advisors to secure new strategic investments, raise capital, and execute strategic divestitures. The Board of Directors approved a 1-for-10 reverse stock split.
June 23, 2023 | 2:26 pm
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Wheels Up shares are down 6% after addressing bankruptcy rumors and announcing plans to drive profitability, secure new investments, and execute a 1-for-10 reverse stock split.
Wheels Up shares are down due to the company's statement addressing bankruptcy rumors and announcing plans to drive profitability. The company is working on securing new strategic investments, raising capital, and executing strategic divestitures. Additionally, the Board of Directors approved a 1-for-10 reverse stock split, which may also impact the stock price.
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