I really hate to see that happen to one of the stalwarts of the Dow and a stock I hold close to my heart as I have have been buying for 30 + years. Hard to believe it could dip so low..
GE is a politically lopsided. For a company that trades publically to impose a biased viewpoint is the beginning of the end. Sell now before the stock goes lower.
It's just another indication of the depth of the financial crisis. Great companies will return as will the economy. I just wish I could predict which ones to buy when there are so many potential bargains.
GE's not a penny stock. I'm a bottom line kind of guy. Here's a quote that might be helpful.
"A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful. And most certainly, fear is now widespread, gripping even seasoned investors."
Bruce - some say a penny stock is any stock under $10.00 -- others say $5.00 --- and still others say $1.00
relative to it's status GE breaking down under $10.00 makes it a penny stock to ME.
As for Buffet - I admire him and was following him before following became kool. Years ago I used to call Berkshire Hathaway and have them send me their year end statements because they always contained Warren Buffets common sense commentary on the market and investing. Warren Buffet has not been through the great depression or anything NEAR to what we are experiencing.
The bottom line Bruce --- GE is in a solid downtrend.
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I think Thomas Edison would be P-Oed that his company was doing so bad!