Wheels Up Experience Inc. (NYSE:UP) saw a significant 18.51% increase in its stock price on Wednesday as investors pushed to meet the minimum bid price requirement after trading below it for eight consecutive sessions. The company has been below the $1 threshold since November 17. Failure to comply may lead to delisting within 180 days.

In the third quarter, Wheels Up widened its net loss by 45% to $83.73 million compared to the same period last year. Revenues also fell by 4.3% to $185.49 million, primarily due to decreased flight revenues from the discontinued Connect and Pay-As-You-Fly segment. The company remains optimistic for the fourth quarter.

CEO George Mattson of Wheels Up Experience Inc. (NYSE:UP) expressed confidence in the company’s financial and operating performance following a fleet modernization strategy. They anticipate strong sales growth in corporate and individual Signature memberships in the fourth quarter and the coming year. Despite potential investment opportunities in UP, some AI stocks may offer higher returns.

Read more at Yahoo Finance: Wheels Up (UP) Soars 18.5%, Tries to Regain Minimum Bid Price Compliance