Boeing slides to its lowest level in 13 months after pushing the 737 Max's ungrounding to mid-2020

Business Insider | 8/13/2019 | Ben Winck
nallynally (Posted by) Level 4
Click For Photo: https://i.insider.com/5e275965b6d52d10856544d5?width=1200&format=jpeg&imgtype=.jpg

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...
(Excerpt) Read more at: Business Insider
Wake Up To Breaking News!
He is faithful!
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!