Troubled Boeing Takes Another Hit
Boeing shares continued to bleed after several countries, including China, the European Union and Indonesia, grounded all flights involving the 737 MAX model. Stocks declined more than 6 percent yesterday after a 5.3 percent decline on Monday, notching their biggest two-day loss since June 2009.
Worries over the safety of one of Boeing most popular airplanes push the company’s shares sharply lower.
Stocks impacted: Boeing Co. (BOE)
As a reminder, the plane has been involved in two deadly crashes in less than six months. After the after the Ethiopian Airlines crash on Sunday the prospects of a possible delay in orders rose significantly. By the way, as federal records show, US pilots complained at least 5 times in recent months about problems controlling their Boeing 737 Max 8 jets during critical moments of flight. Considering the thorough investigations and a reaction from many countries and regulators, the company’s shares may face serious repercussions, and more sales are really at risk, which could hurt its financial position.
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