Credit: Image source: Getty Images.What happened
For the second day in a row , Boeing (NYSE: BA) stock is plunging -- it's down 6.7% as of 12:05 PM EDT.
It's no great mystery why. On Sunday, Ethiopian Airlines Flight 302 crashed just minutes after takeoff from Addis Ababa, killing all 157 passengers and crew. This was the second crash of a Boeing 737 "Max 8" airplane in under six months .
Image source: Getty Images.
So what
Multiple airlines around the world have grounded Boeing's 737 Max, with civil aviation authorities in Turkey, France, Austria, Ireland, the UK and Norway joining the crowd this morning. (Canada and the U.S., on the other hand, disclaim any intent to ground the planes...yet).
If that news wasn't already bad enough, President Donald Trump issued a pair of tweets today, expressing his own distrust of airplanes that are "too complex to fly." He didn't name Boeing outright, but taken in context, this was a vote of no confidence in Boeing stock from the highest power in the land.
He then added:
Now what
Nor are government entities the only ones voting no confidence. This morning, two stock analysts, at Germany's DZ Bank and America's Edward Jones, respectively, downgraded Boeing stock. Edward Jones is saying only that investors should hold pending further information about the Ethiopian crash -- but DZ is going right ahead and using the s word: sell .
It's shaping up to be another bad day to own Boeing stock.
10 stocks we like better than Boeing
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor , has quadrupled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Boeing wasn't one of them! That's right -- they think these 10 stocks are even better buys.
*Stock Advisor returns as of March 1, 2019
Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
