GE’s stock bounces into positive territory in attempt to snap 8-day losing streak
General Electric Co.’s stock GE, +0.06% edged up 0.2% in afternoon trade Monday, erasing earlier losses of as much as 2.3%, in a late attempt to snap its losing streak at 8 sessions. The industrial conglomerate’s stock had tumbled over the past eight sessions, highlighted by the 5.2% drop on April 8 after J.P. Morgan analyst Stephen Tusa downgraded GE back to underweight, after he had helped spark a rally in December with his upgrade to neutral. A ninth-straight decline on Monday would have been the longest losing streak since the 9-day stretch ended Nov. 5, 2018. GE’s stock has still run up 24% year to date, while the Dow Jones Industrial Average DJIA, -0.16% has gained 13%.
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