Why Boeing Shares Are Higher Today

Wall Street is finally gaining confidence the 737 MAX will soon fly again. That's providing a lift to Boeing (NYSE: BA) shares, sending the stock up nearly 6% on Monday morning.

Shares of Boeing are down more than 50% year to date, hit by a one-two punch of issues with its 737 MAX and airlines scaling back flying due to the COVID-19 pandemic. The MAX has been grounded since March 2019 following a pair of accidents, and Boeing bled through nearly $10 billion in cash in the first half of 2020 largely due to expenses related to that aircraft.

The first step toward a recovery is getting the MAX airborne again, and it appears U.S. and European regulators will soon recertify the plane for flight.

Source Fool.com