Why Shares of Boeing Fell in April
Shares of Boeing (NYSE: BA) lost 5.44% in April, according to data provided by S&P Global Market Intelligence, underperforming the S&P 500's 12.68% gain. While the broader market spent the month growing increasingly optimistic that the COVID-19 pandemic's impact on the economy might be short-lived, Boeing and the commercial aerospace sector had no such luck.
What happened to Boeing in April? The list is probably too long to type out, but almost all of it has to do with the pandemic and its chilling impact on the airline industry. Airlines that only two months ago were haggling to get ahead of each other to buy new Boeing planes are now in survival mode, cutting flights, grounding jets, and looking for ways to save money.
Image source: Boeing.
Source Fool.com
