Why Shares of Boeing Are Down Today
The markets on Monday were taking a breather after a steady run higher in November. Boeing (NYSE: BA), which has soared higher than most during the month, is losing altitude as well. The company traded down as much as 5% on Monday, a rough day for a lot of equities, and closed 2.6% lower.
It's been a tough year for Boeing, with the shares losing nearly three-quarters of their value in March on the one-two punch of continued issues with its 737 MAX and the COVID-19 pandemic's impact on airlines and air travel.
But we've seen positive developments on both fronts in November, and it has helped the shares climb 46% for the month. The 737 MAX has been cleared for takeoff after 20 months on the ground, and positive news on a vaccine has raised hopes that airlines will recover faster than expected.
Source Fool.com
