Originally Posted by
OldnGrounded
The headline simply says what happened. The financial media are full of headlines equally or more alarming. Investor's Business Daily was running this:
"Boeing Dives to Crisis Low on 737 MAX Delay"
Bloomberg says:
"Boeing’s Max Ruined Christmas. Next Up, Summer."
IBD again:
"Boeing Stock Dives As 737 Max Return Slips Further; Rival Airbus Jet Gains"
Boeing news is genuinely bad. The share price, this evening, is not very far from its 52-week low. I don't think the headlines are particularly exaggerated.
Boeing notified the markets that significant news was coming and the markets instituted a "pending news" halt to stock trading. It’s a market requirement. Trading wasn’t halted because the stock was sliding - it was halted so Boeing could share news that was likely to significantly affect the stock price.
Perhaps the news media should endeavor to understand why trading was halted . . . Or just continue with sensational headlines.
Don’t any of you trade on the market? This is stuff any reasonably savvy investor should know. here’s the SEC’s explanation of trading halts including for pending news:
https://www.sec.gov/fast-answers/ans...nghalthtm.html