Why Shares of Boeing Are Up Today

Shares of Boeing (NYSE: BA) jumped more than 5% at the open on Friday after the company's 737 MAX jet was deemed safe by European regulators. Getting the MAX airborne is a key part of the bull case for Boeing, and the market is applauding a significant step in that direction.

Boeing shares are off nearly 50% year to date, weighed down by issues with the MAX and the COVID-19 pandemic's impact on airlines. The MAX has been grounded since March 2019 after a pair of fatal accidents, but Boeing has been working on software changes designed to address the issues and make the plane safe to fly again.

Image source: Boeing.

Source Fool.com