Boeing Stock Plummets Below $185 on 737 MAX Software Glitch

Boeing shares have dropped below $185 after the company disclosed a software bug in its 737 MAX flight management system. The issue affects automated vertical navigation guidance during certain missed-approach landing maneuvers and can cause autopilot functions to disengage.

The Federal Aviation Administration has launched a formal review of the matter, which could create additional uncertainty around certification milestones for the 737 MAX 7 and MAX 10.

Boeing management acknowledged that stabilizing 737 MAX production is taking longer than expected due to supply-chain constraints and wing manufacturing bottlenecks.