Why Shares of Triumph Group Are Soaring Today
Boeing (NYSE: BA) and its supply chain have been hit hard by the March 2019 grounding of the 737 MAX, which makes up a substantial portion of the aerospace giant's order book and supports an array of suppliers.
Two years removed from the first fatal accident involving the 737 MAX, it appears the plane is nearing regulatory approval to fly again.
Investors have taken notice. Shares of one particularly hard-hit supplier, Triumph Group (NYSE: TGI), are up 12% at midday Thursday on growing optimism about the 737 MAX's return to service, and persistent merger rumors surrounding the company.
Source Fool.com
