Volato (SOAR) stock flew higher on Thursday after the company announced a merger agreement with M2i Global (MTWO). This agreement will have Volato acquire M2i Global to create a diversified industrial provider for various industries.
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Under the terms of the agreement, M2i Global will receive shares representing 90% of SOAR stock, with the remaining 10% belonging to current Volato shareholders. This will also result in a reorganization of the company, including the resignation of CEO Matt Liotta, who will take over as the president of its aviation technology business lines.
SOAR stock was up 57.14% in pre-market trading today, following a nearly 4% drop yesterday. The stock is also still down 64.54% year-to-date and 87.04% over the past 12 months.
Is Volato Stock a Buy, Sell, or Hold?
Wall Street’s coverage of Volato is thin, but TipRanks’ AI analyst, Spark, has that gap covered. Spark rates SOAR stock as Underperform (39) with a $2 price target, representing a potential 7.83% downside for the shares. It cites “poor financial performance and legal troubles” as reasons for this rating.
See what else Spark has to say about SOAR stock
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