Boeing still up 2% in 2019 as company halts 737 Max production

Boeing has been in a mess over the last 15 months following the tragic airplane crashes involving its 737 Max airbus.

The company suspended production of the airplane and new reports suggest Boeing is halting production of the 737 altogether. At least for now.

And this will lead to a domino effect:

From Bloomberg:

Even if no employees are laid off, ceasing production still will cut into the nation’s economic output, given Boeing’s huge footprint in the nation’s manufacturing sector. Through October of this year, the U.S. aerospace industry’s output has fallen 17% compared with the same period last year, to $106.4 billion, in part due to previous 737 Max production cuts.

The shutdown also is likely to ripple through Boeing’s vast network of 900 companies that make engines, bodies and other parts for the 737, and layoffs are likely.

What is most fascinating about Boeing is that its stock has actually risen two percent this year, even with the 14 percent plunge since September.