Boeing stocks keep bleeding
The proposal to leave wiring bundles in place on the grounded 737 MAX failed to get the backing of U.S. regulators
Stocks impacted: The Boeing Company (BA)
Shares of aircrafts maker plunged by more than 12% on Monday, to the levels not seen since 2017. Afterwards, the stocks managed to trim intraday losses somehow. The stock has been within a bearish trend since mid-February and has declined by over 30% since then. The shares were dragged down by the coronavirus-related concerns as well as by grounding of its 737 MAX commercial planes. Yesterday’s fall was witnessed after the planemaker's proposal to leave wiring bundles in place on the grounded 737 MAX failed to get the backing of U.S. aviation regulators, potentially delaying the plane's return to service. The Federal Aviation Administration said on Friday it did not agree with the company's argument that the wiring bundles meet safety standards and now it is up to Boeing to decide how to proceed.
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