Goodbye BA, Was a terrible ride!I haven't given any updates or ideas on BA, which has, for the longest time, been the stock I stan the most.
I tolerated their doors blowing off in flight and their toxic workplace culture, Their Maxjets smashing nose first into the ground killing hundreds. But now that they are uhh.. involved in some darker stuff let's say, it's over.
I sold all of my holdings,in my retirement/TFSAs and my shorter term trade accounts. Some at a gain, some at a loss, net is a bit of profit but mostly not.
If BA was a normal company, not having billions of tax payer dollars being shunted into bailouts and"keep afloats", it would have been over ages ago. Bankruptcy. Bye bye.
But alas, government backings etc. etc.
However, the downside potential on this stock is astronomical. Like I said, no company could recover from this, except BA. SO I am not sure how this is going to look but we likely will see the 140s and lower in the coming weeks/months.
144.29 is the next major support. And when the company is fined and epxosed for their internal fallacies, we will see sub 130. And then, hopefully the family of this poor whistle blower files a wrongful death suit, then we'll be back in the double digits.
It won't really matter though for me, I finally have moved on from stanning a morally objectionable company. They were always morally objectionable with their real lack of care for safety (their Max jets there proved that, so this should not be a surprise) but I feel like all of this whistleblower drama is to far and their stock is for sure showing that they crossed a line here.
I am now a stan of ERJ with a sizeable holding. Its just, the move is done in that domain, but will shift over to that for my aviation needs.
Anyway, best assessment based on major support is this will be in the 120s within the next few months, I suspect faster if we can get some more news about the status of these investigaitons and such.
Stay away. Stay farrrr away!
