GE's $40+ Close: First Time Since March 2002

General Electric (NYSE:GE) managed to close over $40.00 today, a closing price it has not seen since March 2002.  Technicians would view this as a mixed day.  While shares did close up 1.4% at $40.07 at 4:00 PM (unofficial closing price), shares also closed under the intraday highs from Friday of $40.17.  This is still going to be viewed as a win.

Just Friday we were wondering if the megacap’s shares could hold their 5-year highs and that $400+ Billion market cap.  Shares fell off of highs Friday and didn’t hold that $39.77 close from June.  But today’s trading action showed that there is a renewed belief in the stock.  This should put those calls to break-up the conglomerate to bed.

On a split adjusted basis, GE shares ended 2006 at $36.66, so shares are up 9.2% for the year based on that unofficial closing price.

Jon C. Ogg
July 16, 2007

Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.