Why Shares of Boeing Lost Nearly Half Their Value in March
Boeing (NYSE: BA) was already a bit of a mess heading into March, weighed down by the continued grounding of its 737 MAX aircraft. A dramatic decline in travel prompted by the COVID-19 coronavirus pandemic gave investors a lot more to worry about in March, sending the company's shares down 45.8% for the month, according to data from S&P Global Market Intelligence.
Boeing has been struggling to fly straight since the March 2019 grounding of the 737 MAX following a pair of fatal accidents involving the plane. The post-crash investigations have revealed a lot of embarrassing details about internal operations at Boeing and caused the company to replace its CEO. But throughout it all, bulls have been reassured by the plane's 4,000-plus backlog and the overall strength of Boeing's commercial operations.
Image source: Boeing.
Source Fool.com
