Why Boeing Stock Is Descending Today
The latest issue involving a (NYSE: BA) jet is likely to lead to more regulatory scrutiny and could sap whatever momentum the stock had. Investors are responding to a series of negative analyst responses by selling Boeing shares, sending the stock down about 7% as of 11:30 a.m. ET Tuesday.
Boeing has taken investors on a bumpy ride over the past five years. First, the company faced issues with its 737 MAX that led to an 18-month grounding of the jet. A pandemic-related sales slowdown followed, and even as airlines have bounced back and demand for jets has recovered, Boeing has continued to be plagued by recalls and troubles with its 737, 787, and 777 lines.
The latest issue occurred last week, when a 737 MAX operated by Alaska Air Group lost pressurization at 16,000 feet after a door plug fell out mid-flight. The Federal Aviation Administration (FAA) is currently investigating the incident, which could impact nearly 200 similar planes operating around the globe.
Source Fool.com
Boeing Co. Stock
With 38 Buy predictions and 4 Sell predictions Boeing Co. is one of the favorites of our community.
With a target price of 221 € there is a positive potential of 28.7% for Boeing Co. compared to the current price of 171.72 €.
