Boeing Attracts Activist Attention
Billionaire investor Dan Loeb's Third Point has apparently taken a stake in Boeing (NYSE: BA), a move that should provide support for the beleaguered aerospace giant's shares. Boeing is also making progress securing its massive commercial order book despite the COVID-19 pandemic.
Loeb's Third Point Offshore fund listed Boeing as one of its top winners in May, confirming market rumors that the fund has taken a position in Boeing. Share of Boeing have lost more than half of their value year to date as airlines have scrambled to cut costs, and ground aircraft, due to a pandemic-related travel slowdown.
Image source: Boeing.
Source Fool.com
