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General Electric Plummets 11% for Worst Loss in 11 Years

Courtney Dentch

(Bloomberg) -- General Electric Co. shares ended Thursday’s trading session lower by 11% in its worst one-day loss since April 11, 2008, after a financial analyst working with a short seller accused the company of “accounting fraud.” GE Chief Executive Officer Larry Culp called the claims “market manipulation -- pure and simple.”

The stock fell to $8.01 per share at 4:05 p.m. in New York, the lowest price since Jan. 4.

To contact the reporter on this story: Courtney Dentch in New York at cdentch1@bloomberg.net

To contact the editor responsible for this story: Chris Nagi at chrisnagi@bloomberg.net

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