Why Shares of Boeing Are Up Today
Shares of Boeing (NYSE: BA) traded up more than 5% on Monday on optimism that the worst from Congress might be over for the company as it deals with the 737 MAX grounding. Boeing shares are down more than 20% over the past six months, and even the slightest hint of good news is enough to send the stock higher.
It's been almost a year since the March 10, 2019, crash of an Ethiopian Airlines 737 MAX that killed all on board and prompted regulators to pull the plane out of service. Boeing has failed to meet a series of internal deadlines to resolve the issues with the plane and get it airborne again. And in December, it said it would halt production to deal with a backlog of jets that were manufactured but can't be delivered to customers.
Boeing's 737 MAX. Image source: Boeing.
Source Fool.com
