Here's Why Boeing Stock Slumped in 2024
Shares in aerospace giant (NYSE: BA) declined by 32.1% in 2024, according to data provided by S&P Global Market Intelligence. It was an eventful year for the company, marred by operational mishaps, industrial action, senior management changes, significant cash outflows, and disappointing airplane deliveries. Here's what happened in 2024 and a sneak peek at 2024.
Last year had hardly begun before a high-profile door plug blowout on a Boeing 737 MAX on an Alaska Airlines flight raised renewed safety and quality concerns at Boeing. Then-CEO Dave Calhoun deliberately slowed deliveries while the company worked on improving quality control in the spring. Slowing 737 MAX deliveries is one of the last things Boeing wants to do and the last thing airlines wish to see, but everybody wants to see Boeing ensure the quality of their airplanes.
It gets worse. A protracted dispute over a new labor contract led to strikes and the shutdown of production lines in the autumn, notably on the 737 MAX. The result is that Boeing got nowhere near its aim of achieving an initial rate of 38 deliveries a month for the 737 MAX.
Source Fool.com
Boeing Co. Stock
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With a target price of 230 € there is a slightly positive potential of 14.17% for Boeing Co. compared to the current price of 201.45 €.
