What Happened to $BA Today?

This morning, on, there was an increase in the search volume for $BA, The Boeing Company. What happened?

In March 2019, the Boeing 737 MAX passenger airplane was grounded worldwide after two major crashes occurred due to a flawed control system. After experiencing major political backlash for the past several months for the mistakes that were made on behalf of Boeing itself, the company has positioned itself well in regaining the trust of the public. In the past month alone, the world’s largest multinational aerospace company and leading manufacturer of commercial jetliners has seen their stock price rise overwhelmingly, by over 50%. As the world prepares for the release of an effective COVID-19 vaccine in the next month or so, Boeing will look to take advantage of increased travel by distributing more of their 737 MAX passenger planes.

Ryanair $RYAAY, an Irish airline company, is one of Boeing’s largest worldwide customers. Today, Boeing announced that they are close to agreeing on an order for 210 737 MAX passenger planes with Europe’s largest airline company, an increase from the original 75 planes that they agreed upon. This deal is seen as a pivotal moment in Boeing’s efforts to rehabilitate the troubled 737 MAX, which had once been its fastest-selling model. United Airlines $UAL has demonstrated similar support for Boeing’s resurgence, with plans to begin flying 737 MAX planes on December 29th. Due to the extraordinary circumstances presented by COVID-19, looking at a six-month time frame presents the possibility of a good upside for airline stocks as demand rebounds. With plans to distribute a large amount of these new 737 MAX airplanes, is it safe to assume that Boeing could return to pre-COVID levels of production? On March 1st, 2019, Boeing stock reached an all-time high at $440.62. Sitting at around $238 right now, there is definitely the potential for Boeing to continue its monumental resurgence over the next few months.

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