Boeing stock slides as company posts sharp decline in October deliveries due to strike

Published On Nov 12, 2024, 1:15 PM

Boeing's stock fell nearly 3% following a significant drop in aircraft deliveries—only 14 planes were delivered in October compared to 34 a year earlier. The decline is attributed to a seven-week strike by its largest union, which disrupted production and delivery processes. Boeing recently raised over $21 billion to improve its financial standing and is facing challenges in ramping up production as operations gradually resume post-strike. Despite the setbacks, the company reported 63 new orders and no cancellations in October, although it continues to face scrutiny regarding its recovery efforts which may take time to stabilize.

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Stock Forecasts

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Negative

Boeing's recent challenges due to reduced deliveries and ongoing recovery from the strike will likely weigh on investor sentiment. Though they have booked new orders, the delivery delays suggest ongoing operational inefficiencies, which could lead to further stock declines in the short term as market reactions play out.

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