Boeing Co. (NYSE:BA) is contemplating raising at least $10 billion by issuing new stock to replenish its cash reserves.
The aerospace giant’s stock dipped approximately 1% following the news. Shares were trading at $150.65 during pre-market hours on Tuesday, down from Monday's close of $152.04, as per Benzinga Pro.
The aerospace giant’s stock dipped approximately 1% following the news. Shares were trading at $150.65 during pre-market hours on Tuesday, down from Monday's close of $152.04, as per Benzinga Pro.
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NewsTranscript
00:00Let's talk about something else that has problems. Let's talk about this rumored Boeing
00:07offering, excuse me. $10 billion through a stock sale? What's going on here with Boeing?
00:11Oh, man. I mean, this is just a bad news stock of bad news. They actually should
00:18change the symbol to BAD instead of BA because there's nothing, nothing. Is there a BAD?
00:25I'm checking right now. That was too good to not know. It was an old ETF. It's open,
00:30Joel. Let's do it. I mean, come on. An offering now.
00:38Rumor. Rumor. Just a rumor. It's a rumor. $10 billion rumor, though,
00:43like the time of $10 billion. I don't know if it's shares. I think it's dollars,
00:47obviously. I hope it's not. Yeah, it's $10 billion. That is the rumor.
00:50It's shares. But the rumor, I mean, this is what we talk about Boeing all the time,
00:56and hopefully my internet's better here now. This is what we talk about all the time is like,
00:59this stock starts to show some life, and then they get harpooned by another negative headline. It
01:05just cannot get away from the cycle of negative headlines. Stock is sitting near a 52-week low.
01:12We're not down to where we were in 2020. We're not down to where we were in 2022,
01:16but we are lower than we were in 2023. Obviously, the stock was $435 back in 2019.
01:22This has just been a place where money goes to die. I don't know if it turns around anytime soon.
01:27Dumpster fire is the word, Paul. This has been a dumpster fire.
01:32Next monthly support level, that's all I can give you. I mean, if you want to drill down
01:36on the weeklies, oh boy, $141.54. That was your low back in November of 2022, just for
01:46let's do a little weekly thing. The weeklies don't help you out either here, folks.
01:53Pre-market low, you are off. You could tell it was a rumor because they whacked it to $146.58,
01:59and now you're $4.50, $5 above it. I think if you want to buy this, you're going to have
02:06to buy it into a falling market, not like a rapidly declining market, but a copy.
02:12Oh, I should have been out there at $147. Let's let me check for yesterday's low, $151.24.
02:20That could easily fill the gap in Boeing.