Boeing's Drop Tempts Investors

Boeing (NYSE: BA) can't catch a break in 2024. 

In January, an Alaska Airlines (NYSE: ALK) Boeing 737 MAX 9 experienced a rather unexpected mid-flight event when its emergency exit door decided to take a spontaneous vacation and flew off, leaving a gaping hole in the plane's fuselage while soaring at an altitude of nearly 16,000 feet.

The next day, the Federal Aviation Administration ordered all Boeing 737 MAX 9 planes in the U.S. to be temporarily grounded. The Department of Justice also launched a criminal investigation into this Boeing jetliner blowout, according to The Wall Street Journal.

There are so many safety investigations against Boeing right now that it would take multiple newsletters just to go through all of them.

And let's not forget Boeing's history, with two 737 MAX 8 crashes in Indonesia and Ethiopia in 2018 and 2019. Those unfortunate incidents resulted in the tragic loss of 346 lives and a temporary global grounding of the jets.

Just when you thought things couldn't get any worse, a report by The New York Times this week revealed that the FAA conducted a six-week audit of Boeing's production of the 737 Max jet. And guess what they found? Dozens of problems throughout the manufacturing process.

Unsurprisingly, all these mishaps have taken a toll on Boeing's stock price. It's down a whopping 27.50% this year. 

But, some investors see this as a golden opportunity to buy the stock while it is low. It is nearing its 52-week low, a key indicator of a good stock price.

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