Why Lilium Stock Soared on Tuesday
Shares of German "flying taxi" company Lilium (NASDAQ: LILM) took wing Tuesday morning, flying 5.9% higher as of 11:35 a.m. ET after the company announced that:
The Heli-Eastern deal envisions helping Lilium identify potential sites and additional partners for setting up "vertiports" for launching and landing air taxis, as well as establishing other ground infrastructure -- opening up the potential for revenue streams beyond the initial sale of aircraft. Bao'an will apparently be one of the first such partners.
The Bao'an deal also envisions Lilium setting up a regional headquarters in the district to facilitate further sales and the provision of supplies and services to support air taxi fleets.
Source Fool.com
