Why Spirit AeroSystems' Stock Price Is Falling Today
Shares of Spirit AeroSystems (NYSE: SPR) were down by 15% as of 12:13 p.m. EDT on Thursday after the company said it had been asked to scale back production of components for Boeing's (NYSE: BA) troubled 737 Max.
Spirit, a one-time Boeing subsidiary, still counts on the aerospace giant for a substantial portion of its revenue, providing components of many of its planes. Among them, it makes the fuselages and other parts for the 737 Max, a plane that has been grounded since March 2019 after a pair of fatal crashes caused by flaws in a flight control system.
Image source: Spirit AeroSystems.
Source Fool.com
