I have made mayo on a number of occasions. The first time was with a hand whisk and olive oil. It was very thick and it was green and not very useful at the time because of the strong olive oil flavour. I have made it in a blender and it worked, but it wasn't as thick as store bought. I have made it with a stand mixer and it was at least as thick as store bought.
I think the power of the stick blender might come into it. I've seem a demo of mayo made like that with a Bamix stick blender and it works perfectly but I've heard people say they've had failures with less powerful stick blenders. (The Bamix will chop meat into minced meat for meatballs, etc., which not a lot of stick blenders will. It's also frighteningly expensive!)
Donít look for the light at the end of the tunnel. Stomp along and switch the bl**dy thing on yourself.