By Ankit Ajmera
By Ankit Ajmera
March 16 (Reuters) – Boeing Co’s BA.N shares plunged one other 20% on Monday, erasing all positive factors recorded throughout ousted CEO Dennis Muilenburg’s tenure, because the mounting financial fallout of the coronavirus pandemic added to uncertainty across the 737 MAX’s return to service.
The inventory fell to a session low of $135.79, beneath the $138.72 it closed on the final buying and selling day earlier than Muilenburg’s appointment as chief government officer on July 1, 2015.
Boeing shares had gained greater than 136% throughout his tenure that abruptly ended along with his resignation on Dec. 23.
The inventory hit an all-time excessive of greater than $446 on March 1, final 12 months, days earlier than the deadly crash of a 737 MAX jet flown by Ethiopian Airways that led to the grounding of the 737 fleet worldwide.
(Reporting by Ankit Ajmera in Bengaluru; Modifying by Sriraj Kalluvila)
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