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The fall of aviation icon Boeing Co. (NYSE: BA) has been one of the most shocking market stories of the past year.
Once the biggest name in the industry, Boeing took hit after hit throughout 2019.
Let's go back to the beginning.
In 2018, Boeing was promising it could ramp up production of its 737 Max models to meet the influx in demand.
Just five days later, the world witnessed the first 737 Max crash.
And five months after that, a second crash rocked the world and the company.
This was followed by a laundry list of misfortune for Boeing.
What was supposed to be the company's flagship model turned into its worst nightmare. The plane has been grounded worldwide since March 2019.
Cancellations have outpaced deliveries following the aircraft's grounding. And its overall shares have plummeted about 25% following the second deadly crash.
Meanwhile, Boeing's main competitor, Airbus SE (OTCMKTS: EADSY), has been outpacing it in the production of the A320neo, a roughly equivalent aircraft.
Boeing's recent earnings report posted its first annual loss in more than two decades. According to Barron's, core earnings per share fell from $10.85 to $6.50 for 2020, while cash flow was cut from an inflow of $9.8 billion to an outflow of $5.6 billion.
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Andrew Keene is a globally known trader and a renowned expert on all things options.