Priority Aviation Inc. (OTCMKS:PJET) fell 5% after announcing that it will commence alpha testing of the Student Housing By Owner (SHBO) Application on November 10, 2021.
Market Reaction
On Tuesday, PJET stock fell 5.21% at $0.0091 with more than 11.70 million shares, compared to its average volume of 33.57 million shares. The stock has moved within a range of $0.0090 – 0.0100 after opening the trade at $0.0098.
Initiatives Student Housing By Owner App Alpha Testing
The SHBO App development is complete, and the company will now subject it to internal quality testing. In addition, the company’s management confirmed that they are in the course of launching the app in December. This will bring an untapped property market to the student housing sector. Notably, the company anticipates that the SHBO App will reverberate with the struggling student housing market.
Besides the app being an Airbnb for student housing, it will make it easy for people having an extra bedroom, empty house, or garage apartment near the campus to turn the space into a revenue-generating venture. Equally, the app has been designed to maximize advertising for university students. Currently, there are almost 21 million college students in the US, with an estimated spending power of $376 billion. With the launch of the App, investors should watch PJET.
Traders Review
PJET stock is trading below the 20-Day and 50-Day Moving averages of $0.0130 and $0.0150 respectively. However, the stock is trading above the 200-Day moving average of $0.0077. The stock is up 23% over the past 3-month.
