Nancy Tengler Quoted in Reuters

Boeing shares, vanguard of the Dow, hit hard after second 737 MAX crash

Boeing Co shares tumbled more than 5 percent on Monday after China, Indonesia and Ethiopia ordered airlines to ground the aircraft maker’s best-selling line of jets after the second deadly crash of one of the planes in just five months.

While the slide lopped off $12.7 billion in the market value of one of the 10-year bull market’s powerhouse stocks, the one-day loss was far more limited by the closing bell than earlier in the session as some investors bet long-term risks were limited.

Dropping in the early moments of trading by the most since Wall Street reopened after the Sept. 11 attacks in 2001, the stock recouped nearly two-thirds of its losses on the heaviest trading volume in nearly six years.

“Despite the immense tragedy we think the company will fix what we believe is largely a software and training issue,” said Nancy Tengler, chief investment strategist at Tengler Wealth Management, which counts Boeing among its largest holdings.

Read more here: https://www.reuters.com/article/us-boeing-stocks/boeing-shares-vanguard-of-the-dow-hit-hard-after-second-737-max-crash-idUSKBN1QS0WO

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