Why Boeing Shares Are Higher Today

Why Boeing Shares Are Higher Today

Wall Street is finally gaining confidence the 737 MAX will soon fly again. Shares of Boeing are down more than 50% year to date, hit by a one-two punch of issues with its 737 MAX and airlines scaling back flying due to the COVID-19 pandemic. The MAX has been grounded since March 2019 following a pair of accidents, and Boeing bled through nearly $10 billion in cash in the first half of 2020 largely due to expenses related to that aircraft.