Looks like Larry Culp just bought 2.2 million in GE stock
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That's part of his job. He has to do it.
GE's CEO is required to hold 10x his base salary in GE stock, that is a requirement of his contract. Thats why Flannery had to buy it last year
It’s a marketing play, Flannery did the same thing last year.
These purchases are big for average income people but this represents a small percentage of CEO wealth and income. This is for show. Nothing more. Take no action based on this.
As CEO he's probably required to hold a certain number of GE shares, Flannery did the same thing....
This analyst sees GE shares trading as low as $5
Gordon Haskett's John Inch says the number one question his firm is getting is "what could be the downside share price for GE?"
Inch estimates could fall as low as $5 a share.
GE shares are already at new lows since the financial crisis, falling below $10 a share for the first time last week.
That explains the small blip in today's price. It's on it ways back down already.
Imelted bought 100,000 shares last year when it was around $28 a share. That was $2.8 million worth. Flattery bought $2.7 million worth also. CEO's can make bad investments, too.