Could Boeing stock extend drop after Congressman share sale

investing.com:

The recent decline in Boeing (NYSE:BA) stock has been a cause for concern among investors and industry experts alike, prompting closer scrutiny of the various factors weighing on the stock. Against this backdrop, the sale of shares by a congressman has emerged as a focal point, raising questions about the timing of the sale. It also prompts the question of whether Boeing's stock decline will extend further.

Boeing woes

Boeing's shares have declined due to a series of manufacturing mishaps and safety concerns, which have raised questions about the company's commitment to quality and safety standards. These concerns have extended to crucial Boeing planes, such as the 737 Max and the 787 Dreamliner, indicating potential systemic problems that have drawn the attention of regulators and lawmakers. Boeing shares are down 28% in 2024. In January, an incident occurred on an Alaska Airlines Boeing 737 jet, where part of its fuselage blew out mid-flight.

Things haven’t got better for Boeing, with the Wall Street Journal reporting Friday that Boeing has told airlines to check the cockpit seats in 787 Dreamliner jets after it was found that a seat in the cockpit of a Latam flight may have been behind the aircraft’s sudden nosedive.

These manufacturing and safety issues have not only resulted in production delays and regulator scrutiny but have also triggered a significant loss of confidence in the company's practices, contributing to the decline in Boeing's shares.

Congressman sells Boeing shares

With Boeing shares under pressure, it was recently revealed that Representative Bill Keating has sold shares of Boeing.

According to the Capitol Trades website, Keating sold $1,000 to $15,000 in Boeing shares on February 28. He also