Wheels Up shares are trading higher after the company announced that approximately 97.2% of lead investor shares will remain subject to a lock-up restriction until September 20, 2025.
Portfolio Pulse from Benzinga Newsdesk
Wheels Up shares are experiencing a rise in trading following the announcement that 97.2% of lead investor shares will remain under a lock-up restriction until September 20, 2025.
September 23, 2024 | 11:48 am
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Wheels Up shares are trading higher due to the announcement that 97.2% of lead investor shares will remain locked up until September 20, 2025, reducing potential selling pressure.
The lock-up restriction on 97.2% of lead investor shares means these shares cannot be sold until September 2025, reducing the immediate supply of shares in the market. This can lead to a positive impact on the stock price as it alleviates potential selling pressure.
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