Why RTX Stock Fell in 2023
Aerospace giant RTX (NYSE: RTX) came into 2023 with a new name and considerable promise, but the company ran into some unexpected headwinds in the form of a massive engine recall.
The details leaked out slowly, and over time it became clear that the fix would be costly. Investors decided not to wait for a turnaround, sending the stock down as much as 35% for the year at its low.
The stock recovered somewhat in the final months of 2023, but it was still a year to forget for RTX investors. Shares of RTX ended down 16.6% in 2023, according to data provided by S&P Global Market Intelligence, losing to the S 500 by more than 40 percentage points.
Source Fool.com
