As we register daily percentage increases beyond all historical norms for Boeing, we worry the message in the price is being misinterpreted. So to help put this matter into the proper context, we have outlined the top 5 daily percentage increases in Boeing’s share price below.
Number 5: July 28, 1987
Number 4: October 28, 2008
Number 3: March 24, 2020
Number 2: July 8, 1970
Number 1: March 25, 2020
Our Take
In each of the top 2, top 4, top 5 & top 6 single day percentage gains, Boeing was far from a reversal of the stock price to the upside. The lone exception, that could be argued, was the 1970 increase of +23.71%, which took Boeing to a new low by 1974.
We have intentionally included the prior low before the crash in the stock price. Also, we included the following peak price to put into perspective the amount of time and money that may have been lost before getting back to a “break-even” point (excluding dividends).
The fact that Boeing is having these significant increases in the price in a single day is a warning sign that investors must take heed of. This isn’t a recovery, instead, it is manic panic that will bring lower lows.
See Also: The Most Dreaded Chart of Boeing