Boeing today is trading at $173.16, it is trading higher with $19.85 mainly because of a rumor that hedge fund Third Point had taken a significant stake.
Boeing today is trading at $173.16, it is trading higher with $19.85 mainly because of a rumor that hedge fund Third Point had taken a significant stake. Boeing stock has been hammered over the past few months as the pandemic decimated demand for air travel and upended the airline industry. Prior to the pandemic, the grounding of the 737 Max following two fatal crashes did a number on Boeing's financials. The situation has only gotten worse now that airlines are fighting to survive the pandemic-driven slump in demand. Nonetheless, the stock has nearly doubled since bottoming out in March. If the rumors are true, Third Point likely believes that the stock could continue to rally.