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Boeing shares slumped as much as 5.5% in late Tuesday trading after the company announced its 737 Max won't return to service until at least mid-2020.
The stock tanked to its lowest price since December 2018, wiping out more than $10 billion in market value.
Company - Estimate - Model - Return - Service
The company's latest estimate for the model's return to service "is informed by our experience to date with the certification process," according to a Tuesday statement.
Watch Boeing trade live here.
Boeing - Shares - % - Tuesday - Trading
Boeing shares tanked as much as 5.5% in late Tuesday trading after the jet manufacturer announced its 737 Max model won't return to service until at least mid-2020.
The company's latest estimate "is informed by our experience to date with the certification process," Boeing said in a Tuesday statement. The company will provide additional information on its push to return the 737 Max to service in its fourth-quarter earnings report scheduled for release on January 29.
MAX - Service - Number - Priority - Company
"Returning the MAX safely to service is our number one priority, and we are confident that will happen," the company said.
Boeing stock traded as low as $305.83, its lowest price since December 2018. The Tuesday drop erased more than $10 billion in market value.
US - Stock - Indexes - News - Dow
Major US stock indexes dropped on the news. The Dow Jones Industrial...
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