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The Biggest Joke On Wall Street Is Boeing Co (BA)

There is little question that the biggest joke on Wall Street is Boeing Co (BA). The company has been non-existent in terms of doing business in over a year. They just reported that in January 2020, there were $0 orders placed. The rumors of the 373 Max coming back into service have been always 3 months in the future and the economy is slowing. Boeing will owe tens if not hundreds of billions to airlines that have had that 373 Max grounded for well over a year.

Economic news this morning on job openings in the US economy dropped sharply again for the month of December 2019. This tells us that a recession is likely a year or so away. It also tells us that Boeing Co is losing precious time. In other words, there is limited time when the economy will allow airlines to order new planes. The problems at Boeing are keeping these orders away and by the time they fix the issues, it is likely the economy will be in recession and no orders will come through anyways.

The fact that Boeing is even above $300/share is stunning and shows how much global liquidity is willing to dive into any large cap name. However, time is running out. Among many big investors, Boeing Co is the biggest joke on Wall Street. I have a downside target price on Boeing of $160.00 within 18 months.

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