Why Shares of Boeing Are Up Today
Shares of Boeing (NYSE: BA) climbed 5% on Tuesday, fueled by broader market optimism that the economy is beginning to return to normal and a surge in airline stocks. Boeing shares have plummeted this year as its airline customers have scrambled to survive, but Tuesday's headlines offer reason to hope the worst of the pandemic might be behind us.
Boeing shares have lost more than half their value year to date, as the COVID-19 pandemic has caused airlines that just months ago were in expansion mode to instead cut costs, ground planes, and focus on survival. Boeing is a diversified company with a large defense business, but commercial aerospace has been its cash cow and driver of growth for the last decade.
A Boeing 787 Dreamliner. Image source: Boeing.
Source Fool.com
