Why Shares of General Electric Were Up Today
Shares of General Electric (NYSE: GE) gained 5% on Thursday on growing optimism about a recovery in the airline industry. GE faced a number of challenges even before the COVID-19 pandemic, but a normalization of air travel would at least provide a boost to one of the industrial conglomerate's most important business units.
GE shares have lost about 70% of their value over the past five years as the company has been weighed down by debt accumulated from a number of ill-timed acquisitions. The company is under new management, and went into 2020 in the early stages of what figured to be a multiyear turnaround.
Image source: General Electric.
Source Fool.com
