Why Boeing Stock Lost 11% in December
Shares of Boeing (NYSE: BA) were losing altitude last month, as the 737 MAX crisis continued to expand. Boeing's CEO was forced to resign, and the company said it will suspend production the popular jet, which has remained grounded since a second crash in March. As a result. the aerospace and defense stock fell 11% over the month.
Boeing's problems picked up early in the month, as the company invited industry stakeholders to Seattle to help build up support for recertifying the 737 MAX. However, at the same time, news reports continued to come out showing how much control over the regulatory process the Federal Aviation Administration had given to Boeing. Also that day, new FAA chief Steve Dickson made plans to testify before Congress about the MAX on Dec. 11, putting the company back in a potentially negative spotlight.
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Source Fool.com
