Tom Reese/Paul Rubillo, Dividend.com
General Electric (GE) is getting hit hard today, with the only news catalyst being an AP story on the company’s inability to sell its private-label credit card business.
It’s quite possible that GE’s downward move may just be a result of more hedge fund liquidation maneuvers that have rolled through different stocks and sectors recently. GE’s stock has been resilient since mid-June, holding the $27-28 area, but that level has now broken. Volume is running at more than double the daily average traded with almost two hours left in the trading day.
The Bottom Line
Without much to go on, long-term investors will need to regard this as nothing more than rumors at this point. The company has a 4.40% dividend yield, based on last night’s closing stock price of $28.16.
General Electric (GE) is a a ''Recommended'' dividend stock, holding a Dividend.com Rating of 3.5 out of 5 stars.
Be sure to visit our complete recommended list of the Best Dividend Stocks as well as a detailed explanation of our ratings system here.
