Priority Aviation, Inc. (OTC: PJET), was last active in 2017 but is now back with a 38% change in their stock in just one day. Increasing from $.0091 to $.0121 on September 8th, this sudden change was fueled by the company’s earlier announcement which excited investors and encouraged speculation on Twitter.  PJET is one of many penny stocks under 10 cents but may have enough speculative interest to drive up PPS in the coming days.

Catalysts

Puration Inc. (OTC: PURA), North American Cannabis Holdings, Inc. (OTC USMJ), and PJET are all sister companies working within the cannabis sector under the control of 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 these holding companies in a different direction. 

Starting with PJET, ACI announced on August 12th 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 has excited investors’ interest. ACI further disclosed that with new opportunities for PJET, it will be making its “new business initiative public”. With this promise of further news, investors are waiting to hear more details from ACI. This sector change is mirrored in PJET’s quarterly report where the company stated that its “management is contemplating how best to move the company forward at this time”.

Speculative investors are pointing to a possible connection between the Director of ACI/PJET and Alternet Systems, Inc. (OTC: ALYI) – Ed Bollen. Bollen served in the US government for over 30 years – particularly on the diplomatic front in Africa and the Middle East. Bollen joined ALYI’s management team following the company’s 2017 acquisition of Lithium IP Holdings which Bollen is President of. ALYI works in the electric vehicle industry, presently focusing on developing Revolt Electric Motorbikes which will be their first electric vehicle. ALYI announced on August 27th its planned merger and acquisition of two companies to strengthen its electric vehicle ecosystem in Africa. This has fueled speculation that PJET could be involved. However, there has yet to be any further development on this announcement. 

In 2017, ALYI worked closely with PJET’s sister company – USMJ – on a cannabis POS pilot project. At that time, 50 million shares of Alternet Systems’ common stock was reserved by USMJ for a dividend distribution to its shareholders. Later, the company acquired ALYI’s retail point of sale (POS) technology assets.  

In 2019, ALYI released news of its hemp energy storage project with the project’s leader, David Milton, saying, “Hemp could prove to revolutionize battery life by aiding in the development of faster, smaller and cheaper supercapacitors.” This potentially ties into PJET’s ownership of various cannabis intellectual properties and strategic relationships in the cannabis sector.

Media Sentiment

@og_tigress has shared a lot of her own DD regarding PJET and was one of the first to bring attention to the stock. 

Technical Analysis

stocks under 10 cents PJET chart

Since August 12th, the stock has shown some gains and is one of many penny stocks under 10 cents – trading at only $.0109 currently. The stock has a strong support line at .0088 with a weaker, more immediate support at .0104. The resistance line is at .0126. The stock’s value is currently moving down and its RSI is also trending down despite holding at 49.9. Currently the MACD is on the upside but trending downwards after a bearish crossover on Friday. There is no indication of another crossover soon. 

Should you Buy?

PJET is undertaking a new business direction which could lead it to be acquired. Considering that it only became Pink current in May after non-reporting since 2017, a merger or acquisition could be a possibility. In anticipation of that, the stock may rise. In May the PPS reached $.0151 due to the stock’s relatively low float of roughly 722 million and investor excitement. Priority Aviation, Inc. (OTC: PJET), was last active in 2017 but is now back with a 38% change in their stocks in just one day. Increasing from $.0091 to $.0121 on September 8th, this sudden change was fueled by the company’s earlier announcement which excited investors and encouraged speculation on Twitter.  PJET is one of many penny stocks under 10 cents but may have enough speculative interest and potential catalysts to drive up PPS in the coming days.

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