I'm writing because most people who read these posts are current or former GE employees who probably own GE stock. There were two important support levels for the stock price. The first one was $27, which was breached in June. The second was $25, which was breached in the last two days. The breach of $25 is particularly significant, because it means the stock price is likely to see $20 before it sees $30 again. If you're an employee who is worried about being laid off, you should not own too much GE stock at this point. Otherwise you risk the double jeopardy of being laid off and seeing your 501K take a 20% haircut.
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The stock price is now below $24. JP Morgan has a price target of $22 and will not be buying more until the stock price is below $20.
Well to me GE Employees putting 401K funds into GE Stock Fund did not make any sense from the beginning. Thumb rule of investing is not to put everything in one bucket. Person's hard work, dedication, 8 hour of everyday work is nothing but an investment into a company. So if you are already investing your 24% of body/mind (considering you work 40 hours a week), then no need to invest your hard earned money into the same thing. Instead it should be invested somewhere even if the return is lower than GE.
I agree. GE doesn't realize how much trouble they are in. I sold my GE stock 2 years ago. Lost all confidence in GE Leadership after witnessing their continuous bad decisions. Get out while you are able.
I think everyone has concern at this point. I stopped my contribution thru fidelity 401k about a year ago. WB cashing out certainly didn't help with these concerns either.