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GE stock rallies, trades above $100 after reverse split takes effect

·1 min read
GE stock rallies, trades above $100 after reverse split takes effect
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For General Electric Co. investors who might have done a double take when they saw their stock trading above $100, the reason is because the 1-for-8 reverse stock split the industrial conglomerate proposed earlier this year just went into effect. The stock rose 2.1% in morning trading to $105.80, which implies a pre-split adjusted price of about $13.23. The stock's new split-adjusted record close is Aug. 28, 2000's $461.40. GE had said in March that it wanted to implement the reverse split, whic