Why General Electric Stock Dropped, Then Bounced Back, on Friday
Friday capped a topsy-turvy week for General Electric (NYSE: GE) stock, as a topsy-turvy last day of the week. After GE reported earnings early in the day, its stock quickly plummeted 6.3% in value -- then rebounded to actually end the day with a small gain of 1.1%. The question is: Why?
I get why GE stock went down. But then how did it go back up? Image source: Getty Images.
Why GE stock dropped early in the day is no great mystery: Earnings were a disaster. Heading into the third-quarter report, analysts were expecting General Electric to report profits of $0.49 per diluted share. In actual fact, all it was able to come up with was $0.29 per share.
Source: Fool.com
General Electric Co. Stock
€147.50
-0.340%
The stock is an absolute favorite of our community with 35 Buy predictions and no Sell predictions.
As a result the target price of 162 € shows a slightly positive potential of 9.83% compared to the current price of 147.5 € for General Electric Co..
