What they do right is having a duopoly with Airbus, and great military contracts. So investors know that even if things are shit rn, they will probably get better again.

Furthermore, while I agree that Boeing probably will not go bankrupt over this, the valuation sometimes is not a great indicator of what’s going on internally. Enron was worth over 60 billion. Half a year later they were at zero. Now I’m not saying Boeing is nearly that bad, but they are in some trouble for sure.