The Boeing Company (NYSE:BA) is one of the stocks Jim Cramer recently looked at. Cramer highlighted possible opportunities in the stock, as he commented:
“Let me show you what a hard and fast bottom really looks like. Let’s talk Boeing. Coming into today’s session, the only word I could use to describe the stock of Boeing was free fall… Today, though, Boeing spoke, and lo and behold, it didn’t take down numbers. In fact, it reaffirmed the previous estimates. When you’re dealing with a company as dysfunctional as this one, that is huge… The chief financial officer who gave the talk did something that signals the bottom almost every single time. He called the end of what’s known as the negative revisions cycle… which is why it shot up 10% today and why it’s most likely, after some churning, not done going higher.
Now, my Charitable Trust has been buying Boeing all the way down in anticipation of this moment, the end of the negative revision cycle. We knew that when we got there, it would be time for CEO Kelly Ortberg to start playing offense, and now I think he will do just that. More important, because of the huge demand for Boeing’s planes, any sign that the negative revision cycle is over means that when it doesn’t really matter when you buy the stock, even up almost 19 as it was today, because so many pessimistic analysts have been waiting for this moment to upgrade… When you own a stock that’s getting clubbed, there’s always a voice in your head saying, Lord, get me out of this one… And the people who listen to that voice, well, they sold Boeing today, and they shouldn’t have.
That’s usually a big mistake because, as much as you want to get out, there are often a lot more people who have been waiting for the green light to get in, to start buying… They want to buy Boeing for 2026 when the planes start coming off the assembly line… [into] desperate waiting hands of not just airlines but whole countries that have promised President Trump that they’ll buy Boeing planes to shrink their trade deficits with us. How do I know that the Boeing CFO is telling the truth? Well, because his career’s on the line… Everyone on Wall Street knows that, which is why Boeing, one of the worst stocks in this entire market, finally bottomed today. And even after this move, do you know what? It’s not too late to buy some tomorrow after the profit-taking subsides.”
Pixabay/Public Domain
The Boeing Company (NYSE:BA) designs and builds commercial aircraft, defense systems, satellites, and space technologies, and provides related support and service solutions.
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Disclosure: None. This article is originally published at Insider Monkey.
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