Boeing share price slides 2% in pre-market trade after deadly Air India plane crash in Ahmedabad. Buy, sell or hold?
Boeing share price: Following the Air Indian plane crash on Thursday afternoon, which was carrying 242 passengers, Boeing Company’s share price cracked during overnight trade in the US, ending the session almost 5% lower.
The Boeing 787 Dreamliner aircraft, which was travelling to London from Ahmedabad, crashed into a complex of B J Medical College in the Meghaninagar area shortly after taking off on Thursday afternoon, resulting in the death of 265 people.
The aircraft involved in Thursday’s accident, registered as Air India VT-ANB, was almost 12 years old. The Air India plane crash marked the first-ever complete loss of a 787 Boeing aircraft, which was introduced by the company more than a decade ago.
The 787 has become a crucial source of cash for Boeing, with 1,148 of the jets in service globally, according to a Bloomberg report.
Boeing share price trend
Boeing share price had opened the session almost 5.5% lower at $202.17. During the trade, the aircraft manufacturer’s stock had declined to $201.28. Finally, Boeing stock settled at $203.75, recording a 4.79% fall.
This marked the third consecutive day of decline for Boeing shares. In pre-market trade today, June 13, the shares were trading 1.5% lower at $200.54, signalling another weak session for the Boeing stock.
Boeing shares: Buy, sell or hold?
Boeing share price broke out of a 66-day cup and handle pattern at $185, powering ahead toward its breakout target of $240, said Anshul Jain, Head of Research at Lakshmishree Investments, commenting on the technical outlook for Boeing shares.
“The current dip is a knee-jerk reaction from weak bulls rather than a structural breakdown. The breakout remains intact, and any pullback toward the $185–192 zone should be viewed as a buying opportunity. Strong momentum and pattern confirmation support further upside in the coming weeks,” Jain added.
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