GE Hit Hard Again Midday; $8 Level Now in Jeopardy
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Investing.com - Shares of General Electric tumbled in midday trading as investors gave a thumbs down to the new chief executive's appearance on TV.
GE (NYSE:GE) fell by 6.3% to trade at $8.04. The stock hasn't closed below $8 in nearly 10 years.
GE CEO Larry Culp told CNBC he felt an "urgency" to bring leverage down and would do so with asset sales.
The plan to sell 19% of the company's healthcare business is on track and the aviation busines is still the "crown jewel" of the compay, Culp said.
The stock has traded at $9.66 at its highest and $8.15 at its lowest during the past seven days.
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