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Bombardier Inc
Symbol BBD
Shares Issued 2,132,798,299
Close 2021-12-23 C$ 1.73
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Globe says Bombardier wants more recovery under tree

2021-12-24 08:29 ET - In the News

The Globe and Mail reports in its Friday edition that Bombardier's inclusion on a list of star 2021 stocks requires many caveats. The Globe's Tim Shufelt writes that granted, it was a top-five performer in the S&P/TSX Composite Index this year. However, that is coming off an extremely low base, after spending most of the prior year in penny-stock purgatory. The stock only rejoined the Canadian benchmark index in September after having been cast out a little more than a year before. It was a well-earned exile. After unloading the C Series airliner program that nearly bankrupted the company, and selling off the train division days later, Bombardier emerged as a pure-play business jet operation in early 2020 -- just in time for the pandemic. By November of last year, the stock was trading as low as 28 cents a share. Then the pandemic receded, and Bombardier started building a backlog of orders. Still, many investors remain uncomfortable with Bombardier for any number of reasons: its history of poor management and government handouts, its debt level, or simply the mercurial market for private jets. Mr. Shufelt writes that it is perhaps better to describe Bombardier not as a market darling, but a work in progress.

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