Stock performance is far more speculative than Baltia's certification, IMO. Baltia has met the DOT's "fitness" requirements, a vetting process that most start-up companies do not go through.
There is no guarantee that Baltia will operate and be profitable - if there were, purchasing this stock would not have the tremendous upside potential that it has - it would cost more to buy in. That being said, Baltia is in the certification process at this time, and has not been rejected by the FAA or the DOT.
The DOT does not wish to waste its time and resources on helping unqualified applicants. NO AIRLINE ever got through the first phase of the certification process in the first round of application & submissions - they have ALWAYS had to make corrections and re-submit. The frustration here is that recent changes in the process have caused delays - but Baltia is doing well (IMHO and that of many others in the airline industry) at adapting in a process that has had several changes since they began this process a couple of years ago.
The stock value at this time may well be a reflection of the slowness of the certification process, but is certainly not an indicator of the probability of successful certification. Many of us with experience in airline certification believe that Baltia will indeed be certified, in spite of the delays. The timing of the certification is a frustration, but "it is what it is."
