Jet.AI Stock Surges 135% On Aviation Business Sale To FlyExclusive

(RTTNews) - Jet.AI Inc. (JTAI) is soaring 135.04 percent, up $3.39 to $5.97, after announcing a definitive agreement to sell its aviation business to flyExclusive Inc. (FLYX). The transaction, structured as a spin-off before being acquired by flyExclusive, will allow Jet.AI to focus solely on AI solutions.

JTAI is currently trading at $5.94 after opening at $5.80, with an intraday range of $5.07 to $8.20. Trading volume has skyrocketed to 79.14 million shares, far exceeding the average of 1.13 million.

Despite today's rally, Jet.AI remains well below its 52-week high of $315.00, though investors are reacting positively to the company's strategic transition into an AI-focused business.

Shareholders will retain their Jet.AI stock while receiving new Class A shares in flyExclusive.