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Boeing stocks take a nosedive as company announces nearly $4 billion hit

Posted on AllSides May 26th, 2024
From The Center

Boeing will reportedly blow through billions more dollars than expected to course correct after a series of financial hits. The company said that its bottom line is hurting as the company navigates an ongoing crisis related to the safety of its planes and its ability to manufacture them. On Thursday, May 23, Boeing announced that it took a nearly $4 billion hit during Q2 of 2024.

Additionally, the company warned investors it may take a similar or larger hit next quarter. Boeing’s stock fell more than 7% upon the announcement on Thursday.

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