- General Electric (GE -0.8%) slides to a fresh six-year low, capping a 45% plunge since the start of this year and a 27% slide since September.
- Although Wolfe Research technical analyst Rob Ginsberg calls GE "dramatically oversold," he also says its chart is "one of the uglier long-term formations in the market today" and sees $15 as the place where the stock will try to make a stand.
- GE bear John Inch at Deutsche Bank (DE:DBKGn) sees the potential loss of board member Ed Garden of Trian Partners, which owns just 0.8% and might exit its GE position if the stock continues to struggle: "We also presume that Garden would likely be forced to step down from the GE board... Were there not other equally qualified candidates with more prospective longevity for the position vs. a hedge fund executive whose firm owns just 80 bps of GE’s shares?"
- Goldman's Joe Ritchie recently advised staying away from GE without more evidence of a recovery in cash flows and end markets.
- Now read: General Electric: Financial Engineering Disaster
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