General Electric (GE) Not Participating In Today's Rally
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For some reason General Electric (NYSE: GE) is not participating in today's 600 point rally. Shares of GE are down 4% today to $20.63. GE did rise 13% on Friday, so it could have something to do with that.
GE has been under extreme pressure recently due to the locking-up of the credit markets. In order to boost its capital, GE recently sold 547,825,000 common shares at $22.25 per share, and also announced a $3 billion preferred stock deal with Warren Buffett. Shares of GE were trading at $30 per share not too long ago.
GE has been under extreme pressure recently due to the locking-up of the credit markets. In order to boost its capital, GE recently sold 547,825,000 common shares at $22.25 per share, and also announced a $3 billion preferred stock deal with Warren Buffett. Shares of GE were trading at $30 per share not too long ago.
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