Why Boeing Shares Are Higher Today
Wall Street is finally gaining confidence the 737 MAX will soon fly again. Shares of Boeing are down more than 50% year to date, hit by a one-two punch of issues with its 737 MAX and airlines scaling back flying due to the COVID-19 pandemic. The MAX has been grounded since March 2019 following a pair of accidents, and Boeing bled through nearly $10 billion in cash in the first half of 2020 largely due to expenses related to that aircraft.