Boeing Stock Is Losing Altitude Monday: What's Going On?

Boeing Co BA shares are trading lower Monday following reports the Justice Department is opening an investigation into the Alaska Airlines door blowout event.

What To Know: According to a Bloomberg report, the U.S. Justice Department has convened a grand jury as part of a criminal investigation into the Alaska Airlines flight incident in which a door plug blew out of a Boeing plane mid-flight.

Although the grand jury news doesn’t necessarily mean the investigation will result in charges, the report indicates the grand jury developments are at least a sign that the investigation is deepening.

Separately, the Wall Street Journal has reported that roughly 50 people were being treated by first responders on Monday after a Boeing 787 Dreamliner being operated by Latam Airlines did a nosedive on its way to New Zealand. The airline is reportedly calling it a “technical event” that resulted in “strong movement.”

The report indicates that Latam Airlines said the plane landed safely as scheduled, but the New Zealand ambulance service dispatched 14 ambulances after hearing of the in-flight disturbance and transported 12 patients to the hospital when the flight landed.

"Our ambulance crews assessed and treated approximately 50 patients, with one patient in a serious condition and the remainder in a moderate to minor condition," the ambulance service reportedly said.

Boeing has faced increased scrutiny over its planes in recent years. Earlier reports indicated that the Justice Department was looking into whether or not the Alaska Airlines incident would fall under the government’s deferred-prosecution agreement with Boeing related to a pair of previous fatal 737 Max crashes.

Bloomberg said it could not immediately determine if the current criminal investigation is linked or a standalone investigation.

Read Next: Boeing Faces Enormous Scrutiny After Recent Mishaps: Report

BA Price Action: Boeing shares were down 3.37% at $191.81 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Boeing.