General Electric's Breakup Should Help GE Stock
Over the past decade, General Electric (NYSE: GE) has gradually simplified its operations, selling or spinning off a slew of non-core businesses.
Now, the storied industrial conglomerate has decided that it doesn't want to be a conglomerate anymore. On Tuesday, GE announced plans to split into three separate publicly traded companies, each focused on a single market. Here's why that could unlock big gains for GE stock over the next few years.
Back in June 2018, General Electric announced that it would sell a roughly 20% stake in its healthcare business via an initial public offering (IPO), while spinning off the rest to GE shareholders. At that time, the company also told investors that it intended to gradually monetize its majority stake in oil services giant Baker Hughes.
Source Fool.com
