Why Boeing Shares Gained Altitude in July
Boeing (NYSE: BA) investors endured a miserable first half of 2022, but the second half of the year is off to a positive start. Shares of Boeing climbed 16.5% in July, according to data provided by S&P Global Market Intelligence, as investors celebrated a number of new orders and an earnings report that suggested the worst might finally be behind us.
Boeing has been flying into turbulence for most of the last few years. The company's 737 MAX was grounded after a pair of fatal accidents, leading to intense scrutiny of Boeing's safety culture and its relationship with its regulators. Soon after the grounding, the pandemic struck, leading airlines to scale back growth plans and defer plane orders.
The 737 MAX is flying again, and travel has rebounded, but Boeing shares still lost about one-third of their value in the first half of 2022 due to continued questions about the company's manufacturing processes and a fear that a recession could slow new plane sales.
Source Fool.com
