Since Wheels Ups SPAC merger deal in July, the UP stock has been declining rapidly. Wheels Up Experience has the potential to transform the private aviation industry but there are concerns surrounding profitability. At the moment, there are dozens of stocks like Wheels Up Experience (UP) in the market, the question is if Wheels up, as with nearly a lot of other SPACs, is whether they can sustain it’s performance for the long term and make a 180 with their issues of not being profitable.

As with all SPACs, the story from the company is that there’s a massive, untapped opportunity that only Wheels Up can truly serve. But recent trading shows that investors are not buying very many of those stories right now, and certainly not the one that Wheels Up is telling, especially with their price being moderately volatile. Even though the name trended upwards today, Jim Cramer from CNBC thinks that this name is one that all investors should stay away from. “I can’t recommend Wheels Up since it’s unprofitable” said Cramer.

It’s tempting in that context to see Wheels Up as a pandemic winner, but that doesn’t appear correct when looking at market share figures along with it’s balance sheet. Even though the pandemic helped them along with the rebound in the aviation industry, it also allowed the company to acquire customers who aren’t necessarily going to be retained once normalcy fully returns.