Blade Air Mobility (BLDE)

He's praised it in the past. They offer a terrific service that he uses. But the stock and its cohort are stuck. Some feel they have a fine business model.

It emerged from a SPAC deal from last May. They are an Uber-like helicopter taxi business. They do a lot of business between New York City to the Hamptons and other nearby destinations. It's for rich folks. BLDE is building a network to Miami, Chicago and LA. Long-term, BLDE plans to use quieter electric vertical aircraft. Since May the stock has been stuck between $6-11. Revenues were up 277% in the recent quarter and up 73% vs. 2019. They are nearly breaking even. It's trading at only 5x sales 2022. He sees a lot of demand for them. He price targets $15 from the current $9.

A $10 stock that'll probably stay at $10. Look elsewhere.