Seems the stock price is slowly slipping to penny stock land.....thoughts?
12 replies (most recent on top)
No income, no cash flow, no company. Planes aren't flying to pre China virus levels. Power margins always have been poor.
At least the Celtics won their series.
Always painful to see the GE Logo on the uniforms as so many suffer from GE's actions via layoff and stock price decline.
Actually, with yesterdays close it is less than 6.
The 3rd and 4th Quarter Earnings Report for 2020 is going to be real interesting. Not much left of value to sell and just a few more thousand employees to layoff. Business is slow. No cash for any stock buybacks to prop it up like TwoJets did. No immediate plans for growth. Who is buying the stock anyway?
Well technically it is currently worth 600 pennies. Sounds like a lot when you say it like that. Saying it's worth 6 bucks sounds pretty worthless.
Culpable is promoting "lean" across the business units as some great idea of his. I have been working in the Aviation unit for almost two decades and we have implemented lean principles for at least 15 years now. We have a Lean Committee and lean salary employees devoted to lean layout, processes, and continuous improvement measures. But look at us now. The Boeing 737MAX issue and the Covid-19 crisis has decimated the unit in the near term, if not for a few years to come. While "lean" is an important cost cutting strategy, the business environment is what drives the industry and the stock price. As I see it now, the stock price has no reason to go up. Only down a few notches. I see more layoffs, also in my crystal ball.
While the stock price on a layoff site is probably not appropriate it could lead to more layoffs, so maybe OK.
GE was good as a mutual fund before diversified mutual funds where vogue i.e. conglomerate.
Today, the separate non-synergistic should be spun-off or sold effectively retiring a dinosaur company that is outdated. Agree with posts that the current CEO has done nothing positive and is just following given his age a dated strategy of implementing an old GE Initiative (Lean) and reacting to environment with lay-offs. Nothing new there through the years, so one CEO vs another would make no difference.
Overall it is time to separate the businesses and retire GE as it is past its prime.
More layoffs coming by end of quarter. Stock plummeting since February. Biopharma sale dollars eaten by the virus. Fat trimmed. Jobs moving overseas to cut costs. No end in site and no way to sustain continuous losses except layoff and consolidation.
IMO, I believe the stock will hover around the 6 to 7 dollar range until the Stock Market has a correction in the near future. Then it may dip to the $5 range but not below it. I work in the Aviation unit and it is bad over here. I don't mean to scare people, but it is not looking good for the near future. In fact, it may be worse than even we know. But if and when Aviation picks back up, it may be time to jump in and invest at the low price.
Chapter 11 looming??
Can't imagine being one of the OG vets that moved a lot of money into 401 with GE being the workhorse, 40+ a share. Even when I started in 05 they were talking about the stock splits with a twinkle in their eye. Now they hang onto the bitter end, like a dingleberry. Oh well my average buy in is 13, my 401 is trash. Guess I can always supplement with my pension??
(Insert bill cosbey pudding pop face)
Stock shares are worth at best 3.25 a share. Currently way over valued. The actual stock share value doesn’t honestly relate to company value. There have been billions in orders announced in 2020, Yet everyone reports that GE has a negative order book, and no work for the future! You have to be blind and live under a rock to see both are not honestly true! But we are more worried about proving we are a diversified company, loading up the ranks with people of certain race and s-x, vs having people qualified to be in positions to over see and guide foreword!! Its like this site every day, like a crock of sh–, always full of it!!!
Exactly, WTH did Culp get to renegotiate his contract, to ride this to the bottom?!? He's done no better than his predecessors. And don't tell me it's all Covid related. If the company fundamentals were in order, they wouldn't be in this position. The lower the stock goes, the higher the layoff numbers will be....get ready.