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.


Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 


300x250 - Banner 3 - v1