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Why General Electric Stock Bounced Back Today

·2 min read
Why General Electric Stock Bounced Back Today

Industrial behemoth General Electric (NYSE: GE) couldn't fight the tide yesterday. As Wall Street sold off on worries of a reinvigorated, Delta variant-fueled COVID-19 pandemic that would devastate demand for air travel -- and airplane engines -- shares of General Electric sold off as well. Remember, General Electric used to depend on sales of airplane engines to provide as much as 35% of its revenues.