Why Boeing Stock Dropped 5% This Morning
Shares of Boeing (NYSE: BA) dropped more than 5% in early trading Monday before rebounding to about a 3% loss as of 11:05 a.m. EDT today. This morning, analysts at Citigroup downgraded Boeing stock from buy to neutral.
Boeing stock could remain grounded for awhile, Citigroup fears. Image source: Getty Images.
The downgrade comes only after Boeing stock has fallen roughly 60% in the past year, and Citigroup admits that "we're throwing in the towel far too late." Still, it believes that this is the right call, no matter how late.
Source Fool.com
