Why is GE down so much today?

readytoretire answered 11 months ago …

More than likely the report that short sellers piled on in Dec. There was also rumors running around that they had been told to cut their dividend or have their credit rating cut from AAA. This surfaced over the weekend, but is still going around. Marries up well with shorts.
GE makes most of their money in the credit side of their business, so they are impacted like banks. Their inhouse notes cover purchase of their equipment, so as the stimulus starts, they should rebound fast.
Last week we were congratuling GE on going into the open market and raising B in 30year notes. Today, we don't like them.