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Jet.AI Inc. (NASDAQ:JTAI) stock continued tanking Thursday following its 1‑for‑200 reverse stock split that took effect before Wednesday’s market open.
The company pointed focus to a fresh $5 million investment in a special purpose vehicle tied to Elon Musk‘s SpaceX and xAI‑related entities.
- JTAI stock is moving. See the chart and price action here.
On Wednesday, Jet.AI began trading split‑adjusted after converting roughly 129.4 million pre‑split shares into about 646,800 shares, significantly reducing the float.
At the same time, the company announced an investment of $5 million into an outside special purpose vehicle (SPV) to provide exposure to SpaceX and xAI, tying Jet.AI’s story to future events or re‑valuations in …
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