Why Shares of General Electric Are Falling Today
Shares of General Electric (NYSE: GE) fell more than 5% on Thursday, nearly double the S&P 500's decline, after a Wall Street analyst said he sees little reason to get excited about the company right now. GE is making progress, but the turnaround is going to take time.
General Electric has had a difficult run, with its shares down more than 70% compared to the company's growth stock heyday in the late 1990s. In recent years, GE has been trying to dig out after taking on too much leverage and making some market-topping acquisitions.
GE is on its third CEO since August 2017, and has been making progress getting its house in order. But in a note out Thursday, Cowen analyst Gautam Khanna said that he sees "limited upside" to the stock despite the improvements.
Source Fool.com
