Jet.AI Inc. (NASDAQ:JTAI) lit up the tape after unveiling a $5 million share repurchase plan, sending the penny stock surging on massive trading volume Monday.
The move comes as the tiny company, with a market capitalization of roughly $11 million, tries to reinvent itself from a personal jet services operator into a high-risk, high-upside AI data center story.
- JTAI stock is soaring. See the chart and price action here.
For speculative traders, the combination of a micro float, buyback headline and buzzy AI narrative proved combustible, fueling a sharp rally as day traders and momentum accounts piled in.
The $5 Million Buyback
The buyback authorization gives Jet.AI’s board flexibility to repurchase a significant chunk of the company’s outstanding equity relative to its size, a rare posture for a name this small that is also in …
This post was originally published here
