Why General Electric Stock Slumped Almost 40% in the First Half of 2020
Shares of battered industrial conglomerate General Electric (NYSE: GE) tumbled 38.8% in the first six months of 2020, according to data provided by S&P Global Market Intelligence. Poorly timed investments in consumer credit and oilfield services conspired with the disastrous acquisition of Alstom Power to tank the company's finances. In March, CEO Larry Culp also managed to score a win by closing the sale of the company's biopharma unit to his former company Danaher in a $21.4 billion deal.
