General Electric has come a long way since its $600 billion market value in 2000. This year, that value has been cut down to just under $100 billion – putting the company’s losses at around half a trillion dollars.
GE shares from 2000 to 2018:
This week, the company announced they will replace CEO and chairman John Flannery who has been on the job for about a year. Despite Flannery’s efforts at the helm, GE continued to sink in value and was kicked out of the Dow Jones Industrial Average back in June. His replacement is former Danaher CEO Lawrence Culp who has been on the GE board since April. After the announcement, GE shares soared in response from $11.29 a share to $12.87 a share.
GE shares from September 26th to October 2nd: