Why Boeing Stock Plunged Today
Shares of Boeing (NYSE: BA) fell 6.8% on Tuesday after the plane manufacturer cut its long-term forecast for commercial aircraft demand.
Boeing now projects a need for 18,350 commercial airplanes over the next decade, an 11% reduction from its previous forecast in 2019. Those planes represent a market opportunity of $2.9 trillion.
The COVID-19 crisis will weigh on the airline industry for years, according to Boeing. Image source: Getty Images.
Source Fool.com
