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Why RTX Stock Stalled Out in July

TheMotleyFool

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Why RTX Stock Stalled Out in JulyPhoto, wide shot, wide-angle lens, Networking equipment supplier, sunset photo at golden hour, photo by Marc Adamus: https://img.midjourneyapi.xyz/temp/66e3509e-f4c6-4a7b-8e88-53fcc02cf17f.png

(NYSE: RTX), the company that until recently was known as Raytheon Technologies, has discovered a flaw in one of its commercial aviation engines that will lead to complex inspections and cost a lot of money.

Investors fled for the emergency exits when the issue was disclosed, sending shares of RTX down 10% in July, according to data provided by S&P Global Market Intelligence.

RTX was formed in 2020 via the merger of defense specialist Raytheon and the commercial-focused aerospace arm of United Technologies with a promise of diversification: The combination would be so big, and in so many markets, that it wouldn't be reliant on any one program.

Source Fool.com