General Electric Company (GE) has taken quite the tumble under current CEO Jeffrey Immelt -- down 74% from the $41 it traded at when he took over in September 2001.
But if you had backed up the truck and bought the shares at its 52-week low of $6.66 on March 4, you would be sitting on a 52% gain. And while this morning that hypothetical gain was improving -- GE stock rose by as much as 11% this morning -- it ended up falling over 1.4% as Dow dropped 1.2%. The reason for the temporary rise? An investor conference between 9am and 2pm today (which I discussed last night on Marketplace) disclosing details of its finance unit, GE Capital (GECC).