GE Stock Gains On Speculation Of Warren Buffett Investment
Zacks Investment Research | Mar 27, 2018 10:16PM ET
General Electric Company’s (NYSE:GE) shares gained more than 5% in intraday trading yesterday, recording its biggest one-day gain since April 2015, before closing at $13.44 for a 4.3% jump. This followed a dismal trading session on Monday when the shares plummeted to $12.86 — the lowest since July 2009.
By and large, investors were accustomed to bearish reports on GE due to continuous lackluster performance in the recent quarters amid portfolio restructuring initiatives along with a top management overhaul.
So what suddenly drove the positive share price movement?
Speculations are rife that Warren Buffett, the famed investor and the chairman and CEO of Berkshire Hathaway Inc. (NYSE:BRKa) Zacks Investment Research
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