Boeing Will Sell $19 Billion in Stock Amid Costly Strike

Published On Oct 28, 2024, 11:00 AM

Boeing is raising approximately $19 billion by selling stock to strengthen its finances amidst a significant and ongoing strike by its workers, which is costing the company millions daily. This comes after Boeing reported a $6.1 billion loss last quarter and announced substantial job cuts. The company is facing potential credit rating downgrades due to its high debt of $58 billion and the financial impact of the strike. Boeing's stock has fallen over 40% this year, and the largest union representing its workers rejected a contract that could have ended the strike.

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Boeing's ongoing issues, including substantial debt, the strike's financial impact, and a history of production delays, indicate continued volatility and pressure on its stock price. The potential downgrade to junk status could further erode investor confidence, leading to sustained declines in share value.

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