BA Stock Market Price Today: Boeing Co soars on news that 737 Max is ready to be tested
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Subscribe to Premium- NYSE:BA gains 6% to open the week as the struggling airline company receives good news.
- The airline industry continues to be grounded during the COVID-19 pandemic.
NYSE:BA went sky high on Monday as the beleaguered airline titan flew up more than 6% to recover all the losses from the last ten days, but some profit-taking has triggered a 1.3% loss in the first hour of trading on Tuesday. Shares are still down an astounding 60% over the past year for the blue-chip company as a combination of a grounded 737 Max fleet with zero demand during the coronavirus pandemic has brought the entire industry to its knees. The stock is currently trading below its 50-day and 200-day moving averages.
The FAA announced that Boeing’s 737 Max plane would finally be tested to determine when the plane can once again be in the skies. It may be the first step toward Boeing’s recovery from the devastating plane crashes that plagued the 737 Max from its inception, and it remains to be seen if airline companies or passengers would trust these planes even if cleared by the FAA. Another factor to consider is that global air travel is at its lowest levels in decades and some major airlines are predicting it will be years until travel returns to pre-COVID levels.
BA stock forecast
Any good news has to be welcomed by Boeing and its investors at this point as the once rock-solid company has seen its stock value cut in half. Even if the Max 737 passes the FAA’s tests, the planes are of no use if all flights are still grounded. Investors should temper expectations of an immediate turnaround as Boeing still has a long uphill battle against the global pandemic, shareholder lawsuits, and other fallouts from the tragic plane crashes that started this downward spiral.
- NYSE:BA gains 6% to open the week as the struggling airline company receives good news.
- The airline industry continues to be grounded during the COVID-19 pandemic.
NYSE:BA went sky high on Monday as the beleaguered airline titan flew up more than 6% to recover all the losses from the last ten days, but some profit-taking has triggered a 1.3% loss in the first hour of trading on Tuesday. Shares are still down an astounding 60% over the past year for the blue-chip company as a combination of a grounded 737 Max fleet with zero demand during the coronavirus pandemic has brought the entire industry to its knees. The stock is currently trading below its 50-day and 200-day moving averages.
The FAA announced that Boeing’s 737 Max plane would finally be tested to determine when the plane can once again be in the skies. It may be the first step toward Boeing’s recovery from the devastating plane crashes that plagued the 737 Max from its inception, and it remains to be seen if airline companies or passengers would trust these planes even if cleared by the FAA. Another factor to consider is that global air travel is at its lowest levels in decades and some major airlines are predicting it will be years until travel returns to pre-COVID levels.
BA stock forecast
Any good news has to be welcomed by Boeing and its investors at this point as the once rock-solid company has seen its stock value cut in half. Even if the Max 737 passes the FAA’s tests, the planes are of no use if all flights are still grounded. Investors should temper expectations of an immediate turnaround as Boeing still has a long uphill battle against the global pandemic, shareholder lawsuits, and other fallouts from the tragic plane crashes that started this downward spiral.
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