Why Boeing Stock Is Gaining Altitude Today
Boeing (NYSE: BA) is hosting its investor day, and investors apparently like what the aerospace giant has to say. As of 12:32 p.m. ET, shares of the aircraft maker were up about 3% despite declines in the broader market thanks to management's reassurance that Boeing's recovery is progressing as hoped.
It has been a difficult few years for Boeing investors. First, the company was slammed both by the grounding of its 737 MAX after a pair of fatal accidents and the troubling details about corporate culture that were revealed in the investigations into those incidents. Soon after, the pandemic hit, causing demand for air travel to dry up and leading airlines to reconsider growth plans.
The 737 MAX is flying again in most of the world, and demand for air travel has rebounded nicely. The question for Boeing investors is how long will it take until the company begins to benefit. Management struck an upbeat tone during the investor day presentation.
Source Fool.com
