The Bridger Aerospace Group Holdings Inc (NASDAQ: BAER) stock price soared 141.63% after news that a group of investors had acquired a significant stake in the company. The news was contained in a US Securities and Exchange Commission (SEC) filing showing that JCIC Sponsor LLC now holds a 22.4% stake in BAER stock.
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The filing drew significant attention from retail traders who rushed in and bought Bridger Aerospace shares triggering the massive rally in ABER stock. Over 8.79 million BAER shares had changed hands at the time of writing. Retail investors were excited by the regulatory filing.
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Bridger Aerospace boasts of being one of the largest and most diversified aerial firefighting companies in the United States after recently taking delivery of its sixth super scooper, CL-415EAF aircraft from De Havilland Aircraft of Canada Limited.
At the time, the company noted that its sixth scooper would allow it to expand its operations, given the significant threat to property, forests and human life posed by wildfires, whose furore has increased in recent years, leading to massive losses during the fire season months.
The super scooper is a unique amphibious aircraft that can effortlessly scoop up to 1,412 gallons of water in about 10 seconds and fly at extremely low altitudes, allowing pilots to drop their loads precisely and quickly extinguish fires.
The rationale behind having such a plane is that over 90% of wildfires occur within 20 miles of a significant water source, making it easy for such planes to extinguish fires using water. Returning to today’s massive rally, investors should be cautious about chasing prices higher.
A closer look at JCIC Sponsor LLC, which now holds a 22.4% stake in Bridger Aerospace, shows it is registered in the Cayman Islands as an LLC with the sole intention of owning BAER stock. The company is also affiliated with KSH Capital LP, a Delaware limited partnership, which is its manager.
*This is not investment advice.
The Bridger Aerospace (BAER) stock price.
The Bridger Aerospace (BAER) stock price soared 141.63% to trade at $10.68, from Thursday’s closing price of $4.42.
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