Why Boeing Shares Gained Altitude in November
Boeing (NYSE: BA) shareholders have had a year to forget, with the stock at one point down nearly 75% in 2020. It came back to life in November, gaining 45.9% for the month, according to data provided by S&P Global Market Intelligence. Signs that some of the company's biggest issues are finally on the mend drove the rebound.
This year, Boeing has dealt with the one-two punch of the continued fallout from the 737 MAX scandal and the pandemic's impact on airlines. The 737 MAX was grounded in March 2019 after a pair of fatal accidents, leading to a lack of deliveries that has dried up free cash flow. The pandemic, meanwhile, has caused airlines to clip growth plans and plane orders due to a lack of passenger demand.
Image source: Boeing.
Source Fool.com
