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.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
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.
