The Boeing Company stock falls sharp over the weekends. The stock was trading at $217.74 on July 16 at the close of the trading session. As of right now, the market is open and the stock is trading at $206.96 per share. It marked a 5% drop. The cause of the drop might be the $11 billion drone program.
Over the last three years, the company has worked on the development of the drone tanker, which it first tested in 2015. In October, it successfully refueled a US Navy fighter jet using a drone. If the Navy is planning on having autonomous drones flying off of its decks in the future, then Boeing should be able to offer a variety of drone models for sale.
The cost of the MQ-25’s development has declined significantly since the program started, according to a new report. The report also estimated that the total program cost for the entire fleet of 76 drones is $11.1 billion. The fact that the Navy is now buying drones from Boeing at a 12% discount shows that the company is now in possession of a rare franchise in the defense industry.
Finance and Entertainment Reporter
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