Newspaper article The Canadian Press

Bombardier Shares Close below $1 for First Time in 25 Years

Newspaper article The Canadian Press

Bombardier Shares Close below $1 for First Time in 25 Years

Article excerpt

Bombardier shares hits 25-year low

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MONTREAL - Bombardier shares closed below $1 for the first time in 25 years on Wednesday as the plane and train maker struggles to regain its footing.

The Montreal-based company's shares (TSX:BBD.B) lost two cents or almost two per cent to reach 99 cents. That's the lowest level since 1991, adjusting for stock splits.

Over the past year, its shares have dropped from $3.05 as the company has struggled to deliver its over budget and delayed CSeries commercial jetliner, win new orders and maintain a healthy financial footing.

Analyst David Tyerman of Canaccord Genuity said the decrease isn't likely tied to one event but rather to disappointment over Bombardier not winning an order from United Airlines and cumulative concerns about whether the company can withstand a macroeconomic downturn. …

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