Boeing is facing tough times. The company’s stock has plunged, weighed down by a deluge of bad news, including the tragic death of a former Boeing employee and a plethora of issues with the production process.
Shares of the American aircraft manufacturer slipped by 3.88% to as low as $185.04 as a series of disappointing news turned investors away from the company’s equities.
According to media outlets, Boeing's share price has lost about 25% since early January, after the firm faced significant pressure following an unfortunate incident with its 737 MAX 9 jet. Recall that on January 5, a door plug blew out of an Alaska Airlines plane a few minutes after it took off from the airport.
The incident prompted the Federal Aviation Administration to launch a major investigation that found dozens of problems in the plane maker's manufacturing process. Boeing passed 56 out of 89 audits.
According to analysts at AeroDynamic Advisory, all of these troubles are becoming another serious headache for the company. “It all adds up to a pretty big problem. The company’s position, in terms of market share, reputation, and relations with regulators is getting worse,” the aerospace and defense management consultancy said.
Last but not least, the news that a former Boeing employee who raised quality-control and safety concerns over the company's aircraft production was mysteriously found dead, added fuel to the fire. Unfortunately, the dedicated engineer did not have time to give evidence in a whistleblower lawsuit against the airplane maker.
Thus, Boeing found itself at the epicenter of criminal investigations. The question now is whether the company will be able to recover from the fallout of these woes and spread its wings. Time will tell.
