Jayride (ASX:JAY) share price blasts up 47% on ‘global travel recovery’

The Jayride (ASX: JAY) share price has rocketed 47% today after the company released its third-quarter market update.

| More on:
A rockets heads into space, indicating a share price rising 'to the 'moon'

Image source: Getty Images

The Jayride Group Ltd (ASX: JAY) share price is shooting up today after the company released its market update for the third-quarter FY21.

The Jayride share price has rocketed 47% at the time of writing, trading at 25 cents per share. It closed yesterday down 5% at 17 cents per share.

Jayride is a Sydney-based transfer comparison site, specialising in booking flight transfers for airlines. Founded in 2012, it’s an e-commerce marketplace where people compare companies and operates in the airport, hotel, residential address, tourist attraction and cruise ship industries.

Jayride surges on strong results

Jayride posted that passenger trips booked through its site grew by 69% in the third quarter of the 2021 financial year, against data from the prior quarter. It also reported a 127% increase in passenger trips booked between February and March this year. 

The company says that the majority of its growth is led by North America, with international results assisting the Jayride share price recovery. However, it also maintains that trips across all other continents are increasing.

What Jayride management said

Jayride managing director Rod Bishop welcomed the progress, saying:

We are encouraged by the rebound in trips coming through as vaccination programs gather pace. The global travel recovery has step-changed in March. Trips in March (and April to date) are significantly higher than prior months. We are well placed to scale up and service this growing demand.

Jayride’s growth is being driven by the North American market. In particular US travellers are resuming their travel to domestic and regional destinations like Florida, Mexico and the Dominican Republic. Trips in all other continents also grew in March.

Jayride share price snapshot

The Jayride share price has recovered from yesterday’s losses and has now gained a whopping 92% in the last month and 212% over the past 12 months. 

At the current share price, Jayride has a market capitalisation of $27 million. The company expects to release its third-quarter business review and cash flow report during the week of 26 April 2021.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of January 12th 2022

Motley Fool contributor Lucas Radbourne-Pugh has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

A male ASX 200 broker wearing a blue shirt and black tie holds one hand to his chin with the other arm crossed across his body as he watches stock prices on a digital screen while deep in thought
Share Market News

5 things to watch on the ASX 200 on Tuesday

Here's what to expect on the ASX 200 on Tuesday...

Read more »

Top 10 ASX 200 shares today
Share Market News

Here are the top 10 ASX shares today

Here are your top 10 biggest gainers in the ASX 200 on Monday.

Read more »

blue arrows representing a rising share price ASX 200
Share Market News

Here are the 3 most heavily traded ASX 200 shares on Monday

We take a look at the most traded ASX 200 shares by volume today.

Read more »

Model bear in front of falling line graph, cheap stocks, cheap ASX shares
Share Market News

These are the 10 most shorted ASX shares

Short sellers are currently targeting these ASX shares...

Read more »

a man weraing a suit sits nervously at his laptop computer biting into his clenched hand with nerves, and perhaps fear.

Can regulators prevent another US$45 billion crypto stablecoin meltdown?

Terra's LUNA token, meant to help its UST token remain pegged to the US dollar, has lost 99.99% of its…

Read more »

A male sharemarket analyst sits at his desk looking intently at his laptop with two other monitors next to him showing stock price movements
Share Market News

ASX 200 midday update: Brambles rockets, Goodman upgrades guidance

The ASX 200 is having a decent start to the week...

Read more »

Smiling man with phone in wheelchair watching stocks and trends on computer
Share Market News

5 things to watch on the ASX 200 on Monday

Here's what to expect on the ASX 200 on Monday...

Read more »

Family of four celebrating inside a grocery store or supermarket
Share Market News

4 ASX shares of the most trusted brands in Australia

Which companies are best placed to attract the hearts, minds and wallets of consumers as interest rates rise?

Read more »