Why Shares of Boeing Are Down Today
Shares of Boeing (NYSE: BA) were declining again on Monday. There was news in Boeing's supply chain, with two key aerospace partners announcing new rounds of layoffs in response to falling demand. The headlines provided a fresh reminder of the depth of the challenge Boeing is facing. The stock was down 1.42% at the close of trading.
Boeing shares have lost 60% of their value year to date. The COVID-19 pandemic has hit the airline industry hard, which in turn is almost certain to cut into demand for new planes.
In response, Boeing has eliminated its dividend and cut expected aircraft production, and last week raised $25 billion in fresh debt to help it ride out the storm. But even if Boeing is at no risk of collapse, it still faces a long, arduous road ahead.
Source Fool.com
