Opinions
Jim Cramer - Mad Money
Blade Air Mobility
BLDE-Q
COMMENT
Oct 18, 2021
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.
$10.030
Stock price when the opinion was issued
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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.
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