Another Delay: Boeing Does Not Expect 737 MAX Signoff Until July, Stock Tumbles

Boeing shares are down around 4% after reports from CNBC  indicate that the 737 MAX sign off won’t happen until July.

CNBC cites people familiar with the matter said on Tuesday and notes that this new date is months later than the manufacturer previously expected.

This does not bode well for the company’s imminent bond issuance ( as it tries to shore up its financing to see it through the delayed approval process and rising costs stemming from the crisis).

Shares broke below the key $320 level…

Tumbling to their lowest point since Jan. 3, 2019. 

Boeing shares could be headed down to a long term trend line if the 300 level is breached. 

As a reminder, BofA recently opined:

“we are increasingly fielding concerns from investors regarding the likelihood that the Boeing 737 MAX never returns to service.”

That question may be more critical than ever