Why Boeing Failed to Sustain Its Altitude Today
Shares of Boeing (NYSE: BA) joined the rally on Friday morning, trading up more than 6% at one point, only to give up most of those gains as they day went on. Investors got a reminder of the challenges that face Boeing's commercial division, taking the wind out of the shares.
It's been a tough run for Boeing, with shares down by more than 60% since the start of 2020. The company was hit first by issues with its 737 MAX, a plane that was grounded for 18 months due to engineering issues. In the wake of that grounding, other Boeing models including the 787 Dreamliner came under more intense regulatory scrutiny. Finally, the pandemic, and its impact on the airline industry, ate into demand for new planes.
Image source: Boeing.
Source Fool.com
