How is the stock price holding up after such a poor quarter? Do you think there is some big power investor(s) buying up the market today to keep the price up? Another one of the GE games they play?
6 replies (most recent on top)
22.32 down $1.51
I agree with everything said in the last response. Also, smart investors are looking for value in a stock market that is up almost 20% on the year. GE is down big during that same time period. At some point people are going to make money buying GE near the bottom. I'm just not convinced that time is now. I agree the November meeting will be telling.
Reasons for rally (IMO):
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Overall market up strongly on perceived progress by Congress on budget, allowing reform to proceed.
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Didn't cut the dividend today.
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Market priced much (not all bad news) in before announcement.
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The leader of GE was frank and straight forward about how bad things were. Jeff had lost all credibility
See if GE drifts lower as we get near Nov 13. Not buying any till after then and may wait to see if they start hitting their commitments.
Why would the pre-trading before the bell drop so much, then start to come right back up as soon as the market opened? And the volume will be over four times the daily average, but it can't quite stay above yesterday's closing price.
As I wrote here yesterday, the bad news has been priced in already, the price will continue to go up regardless of the news/results
I think Wall St is waiting to see Flannery's plan to address the issues at Power. If you remove the performance of Power, the numbers would be pretty good. The Digital thing is smoke & mirrors though.