Why Shares of General Electric Fell in February
Shares of General Electric (NYSE: GE) fell 12.6% in February, according to data from S&P Global Market Intelligence, as the company got caught up in the broader market sell-off caused by the rapidly expanding COVID-19 coronavirus outbreak. GE, like much of the industrial economy, is going to be affected by the virus and could need longer-than-expected to execute a much-needed turnaround.
General Electric has had a difficult run over the past few years, with the stock losing more than 70% of its value compared with its 1990s heydays due to market-topping acquisitions and taking on too much debt. GE is on its third CEO since August 2017, but a strong finish to 2019 had investors feeling confident the company was on the right track.
That confidence fell along with the broader markets as it became clear coronavirus was going to affect not just China but the global economy as well. Many of GE's key businesses serve sectors particularly hit hard by the outbreak, including energy and airline stocks.
Source Fool.com
