Do you know Boeing stock is close to junk level stock wonder why ?
I believe Boeing is doing it again they’re playing their game with the stock market again. They want their stock to go as low as it can and they will buy back their own stock at a very low level price, when we’re back to work and the production rate ramping up they will be making a fortune. What do you think?
2 replies (most recent on top)
The company itself is considered to be JUNK and should eventually be de-listed!!!
S&P Global Ratings is looking at downgrading Boeing Co.’s credit grades to junk, citing the planemaker’s growing cash needs as it suffers from a protracted strike by machinists.
The credit grader estimated that Boeing will burn through about $10 billion of cash in 2024. The company is likely to need additional funding to meet its day-to-day cash needs and finance debt maturities, according to a statement Tuesday.
“The strike puts Boeing’s recovery at risk,” according to S&P. “We believe the company remains exposed to higher-than-expected cash usage and adjusted debt for the next year
Junk-rated companies usually face higher borrowing costs than their investment-grade counterparts. Boeing has $4 billion of debt coming due in 2025 and also $8 billion coming due in 2026, according to Moody’s Ratings, which said last month that it’s considering downgrading Boeing to junk.