Boeing (BA.N) is set to close 2024 as the Dow Jones Index’s worst-performing stock, plummeting 32% amid ongoing crises. Shares began the year at $257.50 but fell to $177 after a series of setbacks, including safety investigations, production caps, and prolonged labor strikes. The troubles began with a cabin panel blowout on a 737 MAX in January, leading the FAA to cap production at 38 planes monthly. Supply chain issues, quality concerns, and a seven-week strike further hindered progress. In July, Boeing acquired struggling supplier Spirit AeroSystems for $4.7 billion, adding to financial pressures.
New CEO Kelly Ortberg faced immediate challenges, including a three-month strike by 33,000 workers and a subsequent announcement of a 10% workforce reduction. Despite restarting 737 production in December, Boeing shares remain far below their January levels, contrasting sharply with Airbus’s 11% gain and the S&P 500’s 23% rise this year.
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