GE has long been guilty of creative accounting. Every quarter GE has played with numbers to make GE's stock value look more appealing to investors than it really is. Usually GE chooses layoffs, selling assets, or dumping large business segments. Now, the creative accounting guru's have completed a reverse stock split. Why? To fool investors into thinking the stock is worth over $100 per share. Nothing else has changed. Nobody wanted to buy the stock at $10 per share because it is worthless. It is still worthless at $100 per share. At least at $10 a share GE stock was a MAYBE buy? Now it's a "He-l to the No, No, No!"
10 replies (most recent on top)
ah yes, a bunch of low level peons that think they know more about running a corporation than sr leadership. If you losers are so smart, why aren't you in the sr level roles. Oh wait - because you have no idea what you are taking about.
Culp has no skin in the game, he hedged his bet when GE biotech was sold to Danaher, which is now at an all time high. If you’re looking for Culp to GAF, you may be very disappointed.
@3edb+1chtT6Mm. 😂😂😂😂😂
That's funny right there.
Someone paid a lotta money to generate a gamma squeeze last week.
It failed.
Now we go down.
Good luck to you true believers who still hold this boat anchor.
Culp said FCF would recover in 2nd half with reopening of economy.
Ha -not chance. Southwest CEO has come out and said they will be unprofitable this quarter. That means GE will be unprofitable (again) and FCF is gonna be negative.
Negative FCF = your debt servicing is greater than your income...aka you are broke.
Moday i buy 1,000,000 $1 strike puts on ge.
This company wont make it to christmas.
For you employees who still work there - I'd recommend start looking for a new job.
@2pjs+1chtT6Mm; You nailed it. The reverse stock split smells of the same old tactics GE has been using for decades. This simply a new trick. The benefactors will be the short term leadership bonus payout. Then it will crash. Long term growth and financial stability of General Electric is not the goal. The goal is for the temporary high level leaders to make as much cash as they can during their short tenure. GE will close its doors after bonus payouts. The only goal for growth.
GE is now in a pump and dump scheme
Pump - reverse stock split and then get wall street buddies to promote it in media, then manipulate it with options...get the price going up and retail jumps in. Gamma squeeze on GE lately has been incredible. This is big money (wall street) doin this.
Dump - GE will cash out equity (sell shares) to raise capital. This will dilute shareholders and stock price will fall like a rock.
Its sh---y wall street fraud 101 playbook.
If you are not in on the game, you are the mark.
Watch and see.
I didn't want to buy it at 12 before the reverse split. Ge wants someone else to make their product, slap there sticker on it and say look at what we made. I'm surprised it's still considered a American company, only because there headquarters is in boston, they send almost everything over seas to get made. 56$ to 64$ I may buy back in at.
Investors were bullish on GE in 2016 because they didn't know what they were talking about. GE was caught manipulating the books and paid a heavy price. It is well known that GE is junk. I guess in that regard, the OP is Captain Obvious. Lol. Because the culture of GE is yapping jaws instead of producing a profitable product, GE will continue to fail. Those of you defending GE must be the meeting gabbers that are destroying the company. Receiving paychecks for nothing.
So you think investors and Wall Street experts are stupid? GE is doing just fine and have improved their position greatly in the last year. You don't know business economics. If you did, you wouldn't be here bi-----g about something you know very little of.
OP is obviously a Tusa desciple. Easy to be a follower when you can’t have any original thought.