What's Going On With Alaska Air Stock?
Portfolio Pulse from Erica Kollmann
Alaska Air Group, Inc. (NYSE:ALK) stock is trading flat and has declined over 7% in the past month, partly due to an incident involving the loss of a Boeing 737 Max 9 door plug mid-flight. The incident is linked to missing bolts from the Boeing Company (NYSE:BA) factory. Alaska Air has resumed some Max 9 services after inspections. The stock is trading below its 50-day moving average but above its 52-week low. Investors are considering earnings growth and valuation metrics, with ALK's earnings up 66.67% last quarter and its P/E ratio compressed by 93.57% compared to last year.
January 29, 2024 | 3:18 pm
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NEGATIVE IMPACT
Alaska Air Group's stock has been negatively impacted by the recent incident involving a Boeing 737 Max 9, with shares trading flat and down over the past month. The stock is below its 50-day moving average, indicating bearish sentiment.
The incident with the Boeing 737 Max 9 has likely contributed to the decline in ALK's stock price. The negative news could continue to affect investor confidence and the stock's performance in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The Boeing Company is implicated in the Alaska Air incident due to missing bolts on a 737 Max 9, which could raise concerns about production quality and impact the stock.
Boeing's reputation and stock may be affected by the incident as it suggests potential production oversight. This could lead to short-term negative sentiment among investors.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70