Why General Electric Stock Bounced Back Today
Industrial behemoth General Electric (NYSE: GE) couldn't fight the tide yesterday. As Wall Street sold off on worries of a reinvigorated, Delta variant-fueled COVID-19 pandemic that would devastate demand for air travel -- and airplane engines -- shares of General Electric sold off as well. Remember, General Electric used to depend on sales of airplane engines to provide as much as 35% of its revenues.
But today is a new day. Investors seem to have gotten over their worries about COVID-19 (again). And General Electric stock is moving higher again -- up 4.7% in 2 p.m. EDT trading.
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Source Fool.com
