The price action of the previous day was a signal strong enough and the last session saw Priority Aviation Inc (OTCMKTS:PJET) doing the rest of the obvious result. In the previous day, the stock had closed with a good gain but still closed a huge 75% lower from the day high. The rejection at the higher levels was evident, the higher levels being coincident with the 2015 high and a strong supply area. The stock lost another 26.92% in the last trading session, with the volume surging to 17.5 million against the daily average of 7.7 million.
Priority Aviation Inc (OTCMKTS:PJET) is involved into a real business with a robust network of operations. The company boasts a strong revenue base and it is current, thorough SEC filings. A couple of moths ago, the company confirmed that it has turned into a fully reporting firm. It is almost impossible to identify a micro-cap entity that submits financial reports with the scale and intensity which Priority Aviation has demonstrated.
Priority Aviation comes in the group of companies offering private jet sales as well as chartering services. The company operates from lower Manhattan office and has a satellite office located in Los Angeles. It serves a special clientele including corporate customers and high net-worth persons that prefer secure and lavish traveling.
It should be noted that Priority Aviation does not have its own aircrafts. It tracks international group of charters and owners so as to maintain a wide range of planes for customers. The objective is to make the aircraft available on short notice and most importantly it should be equipped with all the amenities that customers demand.
Priority Aviation works in a market where it is imperative to have strong personalities and wide network to achieve success. Attention to every minute detail, quality, timeliness, service, market awareness must be delivered, failing which customers can always look to get services from another firm.
The company recruited Mr. Peter Minikes as CEO in November 2013. With this appointment, Priority Aviation brought extensive experience and strong network of clients to its board. Prior to Priority, Mr. Minikes was active in the financial services industry and in the racing and breeding market, where he made several important contacts. The client record, as it is pointed out in charter parlance, is imperative.