Boeing Shares Fall to 7-Year Bottom as COVID-19 Headwinds Persist

The airline stock is plummeting as Boeing runs out of money

Deputy Editor
Mar 18, 2020 at 3:03 PM
facebook twitter linkedin


Boeing Co (NYSE:BA) is down 24.3% to trade at $94.05 at last check, earlier touching a nearly seven-year low of $89, despite the Trump Administration announcing $50 billion loan plan for airlines. The aerospace firm is seeking government aid in the form of around $60 billion for itself and the entire aviation industry. Smaller requests from airlines have been coming in as COVID-19's impact is worsening, but Boeing is seeking a lifeline and has drawn down a $13.8 billion term loan, taken out only a month ago. 

Boeing stock is pacing toward its third straight loss, and worst day in at least a decade. The equity is back near its 2016 lows, and sports a 71% year-to-date loss.

Analysts remain on the fence. Coming into today, 11 out of 15 covering firms sport a "hold" recommendation. However, BA's 12-month consensus price target of $273.78 sits at a 192.2% premium to current levels as well, indicating price-target cuts are well overdue.

 

Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

 
Schaeffer's Daily Bulletin Offer
 


 


 
Special Offers from Schaeffer's Trading Partners