What’s new with Boeing?

After the fatal crash back in October last year, the share price of Boeing has started recovering.

Although Boeing shares tumbled about 11% since the unfortunate crash, it started soaring almost 18% since August.

After the statement given by the Federal Aviation Administration, it seems quite unlikely that Boeing 737 Max will be flying early next quarter.

In a note to clients, SunTrust Robinson Humphrey analyst stated, “It is nearly the end of September and the Max remains grounded, and to our knowledge Boeing has still not submitted a data package to the Federal Aviation Administration.”

It is important to note that, despite the hassle, the stock price of Boeing has been stable quite surprisingly. Going by the ticker name BA (NYSE), the share price of Boeing Co was closed at 381.65 USD on September 24, 2019. There are several reasons as to why the price remained quite consistent at a time like this. Boeing has a history of manufacturing aircrafts in exceptional quality for decades and, the cooperate management of Boeing showcases a strong leadership which keeps its investors away from losing hope.

On Monday, the Global aviation oversight authorities met in Montreal in order to discuss the future of Boeing’s 737 MAX jet which has been grounded.

“Despite ongoing uncertainty on 737 Max return to service, respondents believe investors are significantly more bullish now than in July,” Analyst Myles Walton stated.

(Reference: Bloomberg, Seeking Alpha, Barron’s)
(Image source: File pic)