News of a tragic 737-800 crash boosted share prices
China Eastern Airlines
Probably not caused by a plane error.
The Wall Street Journal reported Tuesday that the crash of China Eastern Flight 5375 was probably caused by an intentional snoring.
Boeing (Ticker: BA) and China Eastern Airlines (CEA) did not immediately respond to requests for comment.
Both companies had more shares but the overall market was so. China Eastern stock rose 1.5%. The
Dow Jones Industrial Average
Increased by 1.5% and 1%, respectively.
Boeing shares rose 5.1% to 130.40. The shares added about $ 2 along with the journal’s story.
Since the March 21 crash, China Eastern stock has lost about 12%. Boeing shares lost about 32%. The crash, however, is probably not responsible for both drops. The S&P 500 is down about 9% from that span. What’s more, Boeing’s first-quarter earnings report disappointed investors, hitting shares. For China East, the revival of Kovid in China has hit the demand for air travel.
Boeing stock fell roughly $ 12 to its lowest point the day after the crash. Shares closed at $ 185.90 on March 21st, down nearly $ 7 or 3.6%. Shares recover most of that loss the next day and reach pre-crash highs about a week later.
The income disappointment came April 27th. Shares fell 7.5% that day.
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