CNBC’s Jim Cramer on Monday advised investors to wait for Boeing shares to pull back more before buying the planemaker’s latest regulatory issues.
Boeing shares have fallen more than 3 percent to begin the week after reports the Federal Aviation Administration told the company that approval of the 777X could take at least another year. Calls attention to several technical accidents involving long-range aircraft. But while Monday̵7;s drop was Boeing’s biggest one-day drop since May, Cramer thinks stocks can be bought at lower levels.
“It looks like the Federal Aviation Administration is working hard on Boeing’s new aircraft,” Cramer said on “Mad Money.” Please keep your powder dry. I think you will have a better chance of buying it at a lower level.”
As CFO Greg Smith is retiring, Cramer suggested that Boeing may feel the need to issue more shares in the company. which may affect the share price
“The company insists that there is no need to worry about the timeline being pushed back … but I have to tell you that I think this is more of an age thing. The FAA really has to insult these people,” he said. latest Can you blame them?
The delay adds new problems to Boeing’s UFOs as it jockeys to get the popular 737 Max plane approved to fly again in China, Cramer said.
China, an important market It was the first country to end jet production in 2019 after they were involved in two fatal accidents within five months. The Biden White House is working with Boeing to help get regulatory approval. China’s six months after the West cleared the Max plane to return to the skies
–Reuters supported this report.
Disclosure: Cramer’s Charitable Trust owns Boeing shares.
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