Why General Electric Stock Just Dropped 7%
General Electric (NYSE: GE) stock is in free fall -- down 7.3% as of 10:15 a.m. EDT on a day when much of the rest of the stock market is in recovery mode after yesterday's mass sell-off.
What is making GE an outlier today? As CNBC reports, a 175-page "whistle-blower report" has just landed, alleging that General Electric stock is "a bigger fraud than Enron." Even without investors reading any further or knowing any additional details, that allegation alone was probably good for a few points' drop in GE stock.
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Source Fool.com
