Blade Air Mobility: Business Is Taking Off
- Blade reported another strong quarter as demand returns to above pre-covid levels with the reopening of airport services.
- The urban air mobility company still has several years of work ahead to reach EBITDA positive.
- The stock only trades at ~1.5x '23 EV/S targets while the business is poised to soar starting with EVAs in '24.
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Blade Air Mobility (NASDAQ:BLDE) continues to make great progress towards building a platform for flying taxies. The air mobility platform has seen business rebound past pre-Covid levels, while the stock has slumped to $5 with the collapse of former SPAC stocks. My investment thesis remains highly Bullish on the stock as travel rebounds to pre-Covid levels and the market moves toward eVTOLs that expand the market opportunity of helicopters.
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