Why I'm Selling Boeing Company at Support Level of $176.22
Updated
While Most people may see Boeing Company (NYSE: BA) as an opportunity to buy at 176.22 - Given the recent whistleblower allegations regarding cost-cutting measures on Boeing's planes, and the potential impact on earnings, I've decided to sell my position at the support level of $176.22.
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Boeing's earnings report is coming on April 24, 2024. Now, analysts are throwing around numbers like $17.7 billion in earnings, but let's be real, there's some drama unfolding that's making us all a bit jittery.
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Remember those crashes involving Boeing's 737 MAX back in 2018 and 2019? Yeah, not a great look. And guess what? Recent incidents, like that side door blowout on a US flight, are shining a big ol' spotlight on Boeing's internal issues.
AerCap - the big player in aircraft leasing, is basically waving a giant safety flag, saying "Hey, let's prioritize quality and safety over making a quick buck, yeah?" And Emirates is like, "Yo, Boeing, how 'bout we get an engineer in the CEO seat next time?" Even Boeing's own union is stepping in, demanding a board seat to swoop in and save the day.
So, what's the deal? Well, beyond just the immediate shareholder value concerns, this whole Boeing saga is a wakeup call about the dangers of putting profit above all else. It's like, yeah, making money is cool and all, but not when it means sacrificing safety, quality, and basic ethics.
I am keeping my eyes open for what's really going on behind the scenes.
Note
I'm sticking with my decision to hold onto my sell positions. Even though the upcoming earnings report could shake things up, I think it's wise to be cautious given the current challenges Boeing is facing.
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