Boeing Crashes Hard
Me and my big mouth. I posted about Boeing flying high at the end of the year and patting myself on the back and then that door blew out on Alaska Air. Since then, the stock price has crashed and burned, rightfully so.
Boeing stock crashes
Where will it stop? I guess it will hit the $180 target price level first. It might find some support there and it “feels” like a natural low point, but it’s hard to guess.
Is this door thing big enough to put Boeing out of business? I don’t think so, considering they’re one of two big plane manufacturers. Will some heads roll? Yes, no doubt about that.
What’s my play here? First, eat crow for posting how high flying Boeing was. I need to remain humble. Will I pick up more shares when it hits the ground? Yes, you bet.
While I used to play the “catch the falling” knife game, I don’t do that anymore. I’d rather see where prices end up first before I decide to pick up any more shares. At some point I’ll sell my entire holdings but not for another 5 to 10 years.
Disclosure: Long BA.