https://www.reuters.com/article/us-...rst-week-since-financial-crisis-idUSKBN1F82BG NEW YORK (Reuters) - General Electric (GE.N) shares tumbled for a fifth straight session on Friday, sending the stock to its biggest weekly percentage drop since the financial crisis, after the company flagged a possible breakup and more than $11 billion in charges earlier in the week.
I've been long on this since the cut their dividend (actually, shorting puts, and long LEAP calls). Got my cost basis near $17. It's a long term investment play, but to good of a value to pass up. Oh, what I would give for a Buffett bump! I personally love a distressed dividend stock with adequate cash flow to cover it's dividend for the foreseeable future. Given how low the bar has been set buy former management, we're talking about mediocre competence being all that's needed to turn this around. This would have been my biggest play going into 2018, but for SQ's growth.
If GE can liquidate it's losers and focus on it's strengths, this will be the biggest turnaround in history. Not a fan of the fools but ... https://www.fool.com/investing/2017/08/27/where-will-general-electric-be-in-10-years.aspx
Sometimes leadership transition is important. Jack to Jeff and Jeff to John. Current course is not feasible and sometimes making changes is more dangerous. Judging from the CEO transition, it has a deep rooted management culture. Change is hard.