Surf Air Mobility Inc. (NYSE: SRFM) is considered one of the best airline stocks to buy by hedge funds. The company recently closed a direct offering, selling 10,800,002 shares at $2.50 each, raising $27 million before expenses. Funds will be used for debt repayment and general corporate purposes.

SRFM is one of the largest commuter airlines with scheduled departures and a major operator of Cessna Caravans in the U.S. They are also working on an AI-powered software platform for regional air mobility and exploring electrified aircraft technology. The company is focused on innovation and growth in the industry.

While SRFM shows potential as an investment, some believe other AI stocks offer better upside potential with less downside risk. For those seeking an undervalued AI stock poised to benefit from current trends, consider exploring the best short-term AI stock. The company is positioned for growth and could be a valuable addition to a portfolio.

Read more at Yahoo Finance: Surf Air Mobility (SRFM) Expands Capital Base with $27M Equity Offering