Priority Aviation, Inc. (OTC: PJET) left the aviation business to enter the cannabis sector but ultimately fell into inactivity by 2017. Recently, the company has revealed an innovative, new business direction which shows promise for the company as it begins developing its sharing economy app. PJET stock increased 151% hitting its ATH of $.0274 in October – before a sell off drove the stock to its current price of $.0035. As PJET heads into a new market, it remains one of the penny stocks under 1 cent worth watching.
Puration Inc. (OTC: PURA), North American Cannabis Holdings, Inc. (OTC: USMJ), and PJET are all sister companies originally working within the cannabis sector under their majority shareholder ACI – American Cannabis Innovations Conglomerated. ACI acquired these three holding companies in 2017 in hopes of working to streamline operations “by cross-leveling redundant resources across multiple companies”. But since then the company has chosen to take PJET in a different direction.
ACI announced on August that it “is working on the development of a new business initiative outside of the cannabis sector for PJET”. This shift into a new and unknown sector excited investors’ interest. Since then, PJET’s management cryptically shared that it would be redirecting its business plans and operations to target a multi-billion dollar budget using a “sharing economy technology solution”.
Thankfully shareholders were not kept in suspense for long as PJET unveiled its new strategy in mid October, describing its plans for developing an application called “SHBO” – Student Housing By Owner. Advertising itself as the Airbnb for student housing, this application is a strategic move from PJET to target the well-known supply shortage affecting university students across the country.
SHBO will allow individuals to list their private properties and available rooms near universities which are then advertised to students interested in renting or finding roommates. The company has additional plans to target the underserved, smaller universities first and will optimize its app to advertise directly to the desired student demographic.
Similar apps have had great success in this previously overlooked market. For example, Uloop – which offers a range of services targeting university students – connects potential roommates and lists housing options near specific universities. It has grown considerably since its founding in 2007 illustrating the potential for SHBO to thrive after its expected beta launch in December.
Student housing demand is expected to spike as campuses recover from Covid-19 restrictions which have caused many students to abandon on-campus student housing options and live off-campus as they attend college remotely. Typically 22% of students live on campus, but if this number decreases there will be even greater demand for off-campus housing options.
With this in mind, PJET announced it will fund and build a student housing residence in Texas near a small private university as a pilot project. This university has around 1,200 students and will provide PJET the opportunity to test its app and entrance into the short-term rental market.
Recently, the company announced that it finished developing the SHBO housing App and is currently undergoing a quality check. The housing app is expected to be ready for launching soon. To enrich the project, PJET decided to add an EV pilot to its Texas brick and mortar pilot. The company already ordered 10 electric scooters from Alternet Systems, Inc (OTC: ALYI), to be used on the campus which can be accessed through an app.
PJET designed the whole Texas pilot program to gather data that will later be used for creating a more comprehensive technology solution to be implemented in any university across the country. As is, the company will be introducing electric motorcycles and scooters through a university campus roadshow in Texas before expanding elsewhere. The company plans to begin taking orders in Q1 of 2022.
On that note, PJET’s CEO – Steven Rash – said that this pilot program will help the company generate revenue in 2022, explaining that “intellectual property and brick and mortar assets have value, and that value can be transformed into revenue in a number of ways.”
Although PJET still can’t forecast its revenue for the year, Steven Rash emphasized that when the data needed from the pilot program is gathered the company will immediately announce its revenue forecast. He also added that investors should bear in mind “the 21 million US university student population and the 500 million global student population and consider the potential revenue that can be derived serving student life with sustainable technology solutions.”
Steven Rash also announced that PJET is planning on entering the cryptocurrency race with a strategy in the works and others under evaluation. The company did not disclose any further details yet but that could be a major catalyst for PJET in the upcoming year.
Investors including @TrueStockData1 are taking advantage of the current dip in anticipation of the SHBO app launch.
Trading at its support line, the stock is currently at $.0035 with a primary resistance around .0071 and a stronger secondary resistance around .0081. The RSI stands at 44 but accumulation has remained steady despite a downtick recently. The MACD is bullish but appears poised for a reversal.
PJET stock may not seem like a good investment right now but investors should bear in mind that PJET historically has weak resistance lines. Which is a bullish sign for PJET stock as it can surpass them easily as the company begins generating revenue in 2022.
PJET Stock Forecast
PJET’s surprising entrance into the market for student housing offers a unique opportunity for investors to take advantage of. The burgeoning market for student resources and short-term rentals could prove lucrative as students rush to return to campuses following the pandemic. While the stock has not recovered from its sell off, the company has plans that could generate revenue for the company in 2022.
As PJET explores the micro-electric mobility market which is expected to reach $119.8 billion by 2028 thanks to the renewed focus on environmental stewardship, this dip in price could be another chance for investors to get in on PJET stock. If the company’s pilot testing proves successful, positive news could send the stock back to its resistance at .007.
If you have questions about PJET stock and where it could be heading next feel free to reach out to us in our free alerts room!
Please visit and read our disclaimer here.
You can also join our free alerts room and Twitter for the best stock alerts out there.
Join our community on the penny stocks subreddit and Instagram.
Don’t forget we have a Youtube Channel with at least biweekly releases on the latest and greatest runners!