Why Shares of Boeing Fell 10% in October
Shares of Boeing (NYSE: BA) dropped 10.7% in October, according to data provided by S&P Global Market Intelligence, as the saga surrounding the company's grounded 737 MAX continued to weigh heavily on the company. The month ended with CEO Dennis Muilenburg being grilled by Congress, a sign of how deep Boeing's woes are at the moment.
Boeing has deservedly taken a lot of heat from regulators and the press in the months since an Ethiopian Airlines flight crashed, killing all 157 people on board. It was the second fatal crash for Boeing's new 737 MAX in a matter of months and started a process of discovery that has at times portrayed the aerospace giant in a negative light.
Image source: Boeing.
Source Fool.com
