Power Plays Update: BA
June 6, 2023
By Scott Redler
Boeing (BA) is taking a hit on news of a defect on its 787 Dreamliner plane.
The stock dropped about $11 intraday to $200.61 before rebounding up to $206ish.
The last time the company dealt with a defect issue, it led to a corrective phase in the stock.
It's hard to tell if we'll see a repeat of that, but you should be on guard.
If you really want to play it safe, there's nothing wrong with getting out or putting in a hard stop.
For now, Power Plays is giving it to the $188 to $198 area. If the stock gets in there, I'll look to switch gears.
Good luck out there.
Scott Redler Positions Disclosure as of 2023-06-06 at 2.31.34 PM