Post by sd on Aug 18, 2019 8:10:40 GMT -5
Thanks!
I'll try a contrarian "value" play this week- GE is a broken company- Last of the original Dow components -and kicked out of the Dow as it's business models failed to regain profitability.
It's shareholders have seen a huge decline since 2017- from the 30's down to below 7 recently-
It had a big sell-off this week based on being called a fraud and the next "Enron " by a short-seller -
www.cnbc.com/2019/08/17/ge-stock-may-be-recovering-but-harry-markopolos-got-his-digs-in.html
In response, the CEO bought 2 million worth of shares and stated his belief in the company- and that got some wall street support-Price rebounded above the $8 entry level
For 8-19- closing at $8.79 Friday-
I'll take GE long at the Monday open- Stop $8.40 and would set a 15% limit target sell. Somewhat optimistic target- hoping the buying reaction simply doesn't see quick profit taking-
Note that I'm not placing an actual trade in GE-
