The revelations with regards to a new product can often come as a boost to the stock price of companies and hence, it could be the right time to take a look at the stock of the business jet manufacturing company Bombardier Inc. (OTCMKTS:BDRBF).
Yesterday, the company was in the news cycle after it unveiled the model of the cabin of a new version of its midsized business jet Challenger 350. The mock up was of the new variant named Challenger 3500, which is expected to have it service entry at some point in the second half of next year.
In this regard, it is perhaps also necessary to mention that over the course of the past month, the Bombardier stock has actually made steady gains and managed to deliver gains of as much as 16%. The model was unveiled by Bombardier at its production facility located in Montreal.
Now that business travel is expected to pick up again following the coronavirus pandemic, the latest development at Bombardier is something that investors are probably keeping a close eye on. Considering the gains made by the stock over the past month and the latest unveiling, it might be the right time to add the Bombardier stock to your watch lists.
Market Reaction:
On Tuesday, BDRBF stock slid 2.60% at $1.50 with more than 1.85 million shares, compared to its average volume of 2.10 million shares. The stock has moved within a range of $1.5000 – 1.5850 after opening the trade at $1.57.
