Boeing Stock Drops After Software Glitch Report

Boeing's stock plummeted 4.8% on Monday after The Wall Street Journal reported that a software glitch in its 737 MAX autopilot could cause navigation issues. The glitch, which was introduced in a recent software update, may lead to the automated navigation feature failing when a pilot misses a first approach and inputs a new flight path.

Boeing denies any safety risks but is already working on a patch. The Federal Aviation Administration (FAA) is also investigating the issue. At least two major customers, Southwest Airlines and United Airlines, have refused to accept delivery of new 737 MAX planes with the buggy software installed.

The glitch affects around 2,422 Boeing 737 MAX 8 and 9 models already flying worldwide. Boeing hopes to resolve the issue by early 2028 but investors can expect this problem to linger for a while.