Wheels Up Experience (UP) Sells Three Non-Core Services Businesses

Wheels Up Experience Inc. (NYSE:UP) is one of the Best Rising Penny Stocks to Buy According to Hedge Funds. On August 21, Wheels Up Experience Inc. (NYSE:UP) announced the sale of three non-core services businesses, including Baines Simmons, Kenyon International Emergency Services, and Redline Assured Security, for about $20 million.

The market has reacted positively to this divestiture as the stock price has surged more than 18% since the announcement. CEO George Mattson, noted that this sale was part of a greater strategy to focus on core operations. The company plans to invest in products, fleet, and improve the balance sheet. Moreover, management also intends to boost operational performance and simplify its business.​

Wheels Up Experience (UP) Sells Three Non-Core Services Businesses

Wheels Up Experience Inc. (NYSE:UP) is a private aviation company offering on-demand private flights and membership programs. The company provides access to a large, diverse global fleet through owned, leased, and partner aircraft.

While we acknowledge the potential of UP to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than UP and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.