A very large number of people must think they know something about GE (GE) that is not public. Rumors about the company’s financial unit balance sheet have been hurting the stock for weeks.
This morning, GE hit a 52-week low at $6.31 and has been trading down as much as 9% on tremendous volume 72 million shares at 9.47 AM. Later, GE issued a statement denying that it needed to raise capital.
The stock, which traded below $6 for the first time since 1991, has not recovered.
Douglas A. McIntyre
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